In Charts: BlackRock, Vanguard drop support for climate and social resolutions

Support for environmental and social shareholder resolutions seems to be waning, with BlackRock and Vanguard backing only 7 per cent and 2 per cent of environmental and social proposals, respectively.

The world’s two largest asset managers have dropped their support for environmental and social shareholder resolutions during the 2023 proxy season because of “poor quality” and overreaching proposals, attracting criticism from US liberal voices at a time of heightened politicisation for ESG subjects.