2018 Asset Manager Climate Scorecard
NEW ASSET MANAGER SCORECARD REPORT FINDS LARGEST ASSET MANAGERS FAILING TO HOLD CARBON-INTENSIVE COMPANIES ACCOUNTABLE ON CLIMATE CHANGE
BlackRock and Vanguard Supported a Third or Less of Shareholder Climate Proposals
13 Largest Asset Managers Overwhelmingly Supported Management’s Director Nominees and Executive Pay Plans Among Carbon Intensive Industries
A new report analyzing the world’s thirteen largest asset managers’ U.S. proxy voting in carbon-intensive industries reveals that they’re exerting limited and uneven influence over management, despite calls from shareholders to de-carbonize corporate business models. Overall, the managers demonstrated a high degree of alignment with company management. Moreover, the largest asset managers show the least support for shareholder climate proposals—BlackRock and Vanguard supported only 23 percent and 33 percent, respectively, of climate proposals related to addressing climate change.
The report is the first study to take a comprehensive look at both climate-related and management proxy voting for U.S. utilities, oil and gas companies, as well as automakers including General Motors and Ford.
Download the report here.