Signatories are invited to give feedback on the Alliance 2025 Target Setting Protocol released for public consultation by the UN-convened Net-Zero Asset Owner Alliance on 13 October 2020.
The resolution requests that the Board of Directors initiate a review assessing BlackRock’s 2020 proxy voting record and evaluate the Company’s proxy voting policies and guiding criteria related to climate change, including any recommended future changes. Co-filers are welcome.
BlackRock’s voting practices appear inconsistent with its statements about climate change to companies. This contradiction poses reputational risk for the company with both clients and investors. Moreover, proxy voting practices that ignore climate change seem to ignore significant company-specific and economy-wide risks associated with negative impacts of climate change.