NEED FOR 'STEWARDSHIP'
A September report from non-governmental organisation Majority Action said the New York financial giant backed only three of 36 resolutions on climate change in proxy votes of S&P 500 companies. "They are one of the world's largest shareholders in almost every publicly traded company," Mr Cushing said."That gives BlackRock tremendous power and leverage to steer the behaviour of corporations in the US and around the world.
According to the report from Majority Action, investment heavyweight Pimco voted in favour of all the resolutions considered essential for the environment.
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