Mutual fund giant Vanguard reported Monday it has rejected 98% of the environmental and social proposals brought by shareholders this year, joining BlackRock in cutting ESG.
North Carolina Treasurer Dale Folwell joins ‘Mornings with Maria’ to discuss the GOP state treasurers’ ongoing investigation into BlackRock over the firm’s ESG investment choices.
The mutual fund giant said it saw a 50% increase in proposals related to environmental matters alone, and the most common subject was "target-setting for greenhouse gas emissions.""Across all sectors in the U.S.
BlackRock reported last week it turned down a record number of climate proposals in this year's proxy season. The change, BlackRock said in its report, effectively enables more shareholder proposals, including ones that are lower quality, to appear on company ballots. The company specifically stated numerous proposals did not clearly "identify an issue associated with a material risk that could undermine a company’s ability to deliver durable financial returns.
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