Companies that manage retirement accounts and public pension funds -- like BlackRock, the largest asset manager in the world -- could be forcing major action on climate change in the boardrooms of the biggest polluters. Instead, BlackRock has been sitting on their hands and shielding corporate polluters from accountability. Millions of Americans entrust fund managers like BlackRock with our retirement savings. They in turn invest our money into some of the biggest corporations in the world, and then vote on our behalf at those corporations’ annual meetings. But instead of voting for shareholder resolutions demanding climate responsibility from big polluters, these fund managers are using their power to block climate action.A new report shows that this year, BlackRock voted overwhelmingly against important climate shareholder resolutions at major companies, including on votes that would have held the boards of top polluters like ExxonMobil and Duke Energy accountable. BlackRock argues that its private meetings with companies about these issues are enough, but the urgency of the climate crisis means that the time for nice talk behind closed doors is over.Asset managers care about their public reputation, and they really care about losing customers. We need to show BlackRock that their investments in climate destruction and lack of shareholder action will hurt their image and their bottom line. Tell BlackRock to vote for climate action -- and if you’re a client or investor in BlackRock, check the box to let them know!
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