On 14 July BlackRock reports that it has taken action against investee companies for climate inaction. It has put 244 companies “on watch” for insufficient progress on climate issues and taken voting action at the AGMs of 53 companies over climate issues, largely through voting against the re-election of directors. This comes after a coalition of shareholders – including public pension funds – have scrutinized BlackRock, Vanguard, JPMorgan and T Rowe Price, four of the world’s biggest fund houses, over their record on environmental action and climate change voting. Earlier the year it among others failed to support a climate resolution at JPMorgan bank. In January BlackRock announced that it is integrating more climate analysis into all its investment processes, and its support for combined use of the SASB and TCFD frameworks in climate risk reporting.
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