BlackRock Inc (BLK.N) voted for eight proposals pushing U.S. and Canadian companies to adopt policies boosting their boards’ diversity during the most recent quarter, the world’s largest asset manager said on Thursday.
BlackRock said it supported the shareholder motions to press companies to develop or disclose policies geared to promote gender diversity. It did not name the companies it pushed but said the “majority” had boards of directors lacking women.”
We’ve been particularly focused on increasing the number of women on U.S. boards because progress in the U.S. has been slower than in many other markets,” BlackRock said in a report it distributed.
“Board diversity, particularly in terms of gender, is important from a sustainable investment perspective, given that diverse groups have been demonstrated to make better decisions,” it added. “This appears to be because they are better able to consider, where appropriate, alternatives to current strategies – a proposition that can ultimately lead to sustained value creation.”