Despite pledges to focus on climate risks, last year, Vanguard supported only 10% of climate-related shareholder resolutions, while BlackRock supported just 12%, according to analysis from Ceres. Reuters analysis found similar percentage rates in the 2019 proxy season. Vanguard has not put forward any of its own proposals since 2001. Large index firms have indicated they prefer to address issues directly with executives rather than through shareholder votes. Other large mutual funds, such as AllianceBernstein and Eaton Vance, supported climate-related proposals at much higher rates, at 88% and 85% respectively, Ceres found.
Despite pledges to focus on climate risks, last year, BlackRock supported only 10% of climate-related shareholder resolutions, while Vanguard supported just 12%, according to analysis from Ceres. Reuters analysis found similar percentage rates in the 2019 proxy season. BlackRock has not put forward any of its own proposals since 2001. Large index firms have indicated they prefer to address issues directly with executives rather than through shareholder votes. Other large mutual funds, such as AllianceBernstein and Eaton Vance, supported climate-related proposals at much higher rates, at 88% and 85% respectively, Ceres found.