At the beginning of each year, Larry Fink, the chairman and CEO of the world’s biggest asset manager sends a well-publicized letter to the CEOs of its investee companies stressing the importance of ESG factors such as climate change for investors. However, according to research by the 50/50 Climate Project BlackRock supported only 23.1 per cent of climate-related shareholder proposals at S&P 500 oil, gas and utility companies in the 2018 season of shareholder general meetings.

Thus, Ethos and other leading proponents of responsible investing have written to Larry Fink ahead of his annual letter urging him to better align BlackRock’s proxy voting with its stated ambitions on climate change by more broadly supporting climate-related shareholder resolutions.

Financial Times article

50/50 Climate Project report