Earlier this year BlackRock’s CEO Larry Fink noted the risk of climate change. More information on BlackRock’s approach can be found on their website. However, as noted yesterday in the Financial Times, this commitment has not extended to how they have voted their ownership positions in major companies. In fact BlackRock “supported just 6 per cent of environmental proposals filed by shareholders globally in the 12 months to June, down from 8 per cent in the previous year.” There is appropriate scepticism among environmental activists about the difference between what is said and what is done. And so BlackRock would seem to be another example of not walking the talk. Further evidence that greenwashing remains a serious issue.
