Blackrock et Vanguard arrêtent leurs activités d’engagement : leurs clients doivent réagir

The document criticizes Blackrock and Vanguard for temporarily halting engagement activities with companies after the US Securities and Exchange Commission (SEC) introduced new reporting requirements for investors holding more than 5% of a US company. Reclaim Finance asserts that these transparency rules are not a legal barrier to engagement and that the asset managers' reactions reflect a broader retreat from ESG commitments. The text highlights the firms' continued investment in fossil fuels and their withdrawal from international climate alliances, urging clients to demand stronger climate engagement or switch managers to protect their portfolios from systemic climate risks.

• The US Securities and Exchange Commission (SEC) issued a rule on February 11 stating that engagement activities by asset managers holding more than 5% of a US company are now considered attempts to influence or control those companies, requiring them to follow more restrictive reporting rules previously reserved for "activist" funds.
• In response to the SEC rule, Blackrock and Vanguard temporarily stopped scheduled meetings with companies; Blackrock resumed these meetings after a few days, while Vanguard has not yet announced a resumption.
• Reclaim Finance reports that Blackrock and Vanguard have significant financial ties to fossil fuel developers, with Blackrock investing over $1.7 billion and Vanguard over $1.9 billion in recent bonds from such companies, and both voting for over 90% of their board directors.
• Both firms have distanced themselves from international climate initiatives: Vanguard left the Net Zero Asset Managers (NZAM) in 2022 and was never part of Climate Action 100+ (CA100+), while Blackrock left NZAM in early 2025 and only its international division remains in CA100+ as of February 2024.

APA

Manickawasagar, A. (2025). Blackrock et Vanguard arrêtent leurs activités d’engagement : leurs clients doivent réagir. Reclaim Finance. https://reclaimfinance.org/site/2025/02/28/blackrock-et-vanguard-arretent-leurs-activites-dengagement-leurs-clients-doivent-reagir/

Chicago

Manickawasagar, Aatiraï. Blackrock et Vanguard arrêtent leurs activités d’engagement : leurs clients doivent réagir. Reclaim Finance, 2025. https://reclaimfinance.org/site/2025/02/28/blackrock-et-vanguard-arretent-leurs-activites-dengagement-leurs-clients-doivent-reagir/.

Wikipedia

{{cite press release |last1=Manickawasagar |first1=Aatiraï |title=Blackrock et Vanguard arrêtent leurs activités d’engagement : leurs clients doivent réagir |publisher=Reclaim Finance |date=28 February 2025 |url=https://reclaimfinance.org/site/2025/02/28/blackrock-et-vanguard-arretent-leurs-activites-dengagement-leurs-clients-doivent-reagir/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{manickawasagar2025blackrock, author = {Manickawasagar, Aatiraï}, title = {{Blackrock et Vanguard arrêtent leurs activités d’engagement : leurs clients doivent réagir}}, publisher = {Reclaim Finance}, year = {2025}, month = feb, url = {https://reclaimfinance.org/site/2025/02/28/blackrock-et-vanguard-arretent-leurs-activites-dengagement-leurs-clients-doivent-reagir/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }