Blackrock CEO Larry Fink calls on shareholders to make sure their portfolio companies take action on climate change in a speech after the G20 at the International Conference on Climate, hosted by the Italian Ministry of Economy and Finance and the Bank of Italy in Venice on Sunday, July 11. He emphasized the need to…
Category: blackrock
Agenda – BlackRock Whacks Boards on Compensation Changes
BlackRock, the world’s largest asset manager and one of many companies’ largest investors, has voted against compensation plans at several large companies this proxy season, including General Electric last week. The asset manager voted against 15% of compensation-related resolutions at its Americas-based portfolio companies that held annual meetings in the first quarter of this year….
Memo to Corporate Directors: Three Lessons from the Exxon-Mobil Activist Victory
Exxon-Mobil spent $35 million, added new directors, and made promises to do better, all in an effort to defeat the dissident slate nominated by activist fund Engine No. 1. It failed, and, at this writing, Exxon-Mobil has lost at least two seats on the board of directors and votes for two others were still being…
BlackRock’s Governance Mess – Public Accountability Initiative
Murry Gerber has served on BlackRock’s board of directors since 2000 – over two decades – and as its Lead Independent Director since 2017. Gerber has extensive ties to the fossil fuel industry. From 1998 to 2011, he helped oversee the Appalachian fracking boom through multiple executive positions with EQT Corporation, earning tens of millions…
Agenda – BlackRock Whacks Boards on Compensation Changes
lackRock, the world’s largest asset manager and one of many companies’ largest investors, has voted against compensation plans at several large companies this proxy season, including General Electric last week. The asset manager voted against 15% of compensation-related resolutions at its Americas-based portfolio companies that held annual meetings in the first quarter of this year….
Agenda – BlackRock Backs Climate Resolutions While Critics Question Impact
“Supporting shareholder proposals now plays an increasingly important role in our stewardship efforts, particularly around sustainability. We will support a shareholder proposal when we agree with its intent to address a material business risk and believe that management can do better in managing and disclosing that risk. We may also support a proposal if management…
ESGs, sustainable investing are not as green as touted, investor says
Tariq Fancy has some dire warnings about the disconnect between ESG rhetoric and reality in USA Today, concluding, “We’re running out of time and need to accept the truth: To fix our system and curb a growing disaster, we need government to fix the rules.” The financial services industry is duping the American public with…
BlackRock should disclose political activity, pension funds say – The Washington Post
Public pension funds overseeing more than $1 trillion are piling pressure on BlackRock, the world’s largest asset manager, to ramp up disclosure of its political activities in the wake of the Jan. 6 assault on the U.S. Capitol. In a Monday letter to BlackRock CEO Larry Fink, 24 officials from retirement funds accuse the Wall…
Greenwashing Wall Street’s Invisible Hand – The Daily Poster
The chief executive of the world’s largest asset manager was rewarded with laudatory headlines this week for once again promising that his firm, BlackRock, will use its market power to aid the fight against climate change. But CEO Larry Fink’s company has a long history of helping vote down environmental initiatives — and kept doing…
Larry Fink CEO Letter Moves Further on ESG | BlackRock
Larry Fink’s 2021 letter to investors makes it clear that ESG issues are integral to investment decisions throughout BlackRock. I believe that the pandemic has presented such an existential crisis – such a stark reminder of our fragility – that it has driven us to confront the global threat of climate change more forcefully and…
