World’s biggest asset managers accused of blocking ESG shareholder proposals

Non-profit ShareAction says lack of support by BlackRock and other major firms has stymied investors’ environmental and social ambitions.

The world’s largest asset managers have been accused of obstructing shareholder votes on environmental, social and governance issues. Campaigner ShareAction says 49 of 252 resolutions targeting ESG last year in its dataset would have had majority support if three of the largest asset managers – BlackRock, Vanguard and State Street Global Advisors – had backed them.