Led by investment giant BlackRock, individual investors may soon have far more say over how finance giants handle crucial proxy votes.
that it was considering a policy change for its biggest exchange-traded fund , which tracks stocks in the S&P 500 Index.
That’s a big deal, especially since these votes have become increasingly politicized —with encouragement from Biden administration regulators.that the investing giant has been exploiting its shareholder voting power to push companies toward environmental and social policy positions preferred by the progressive left.
The battle over “woke” issues such as the environment or race relations has found a willing home in the hands of large investment firms such as BlackRock.It’s not hard to see why. The “Big Three” asset managers have been at the forefront of the ESG movement — that’s environmental, social, and governance — pushing corporations to pursue environmental goals, “racial justice,” and other left-oriented policy objectives.
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