BlackRock fails to adopt a robust engagement policy

Reclaim Finance criticizes BlackRock's 2021 Stewardship Expectations, arguing that the asset manager's commitment to support more climate-related shareholder votes is undermined by a lack of robust engagement strategies. The document highlights that BlackRock supported only 11% of climate resolutions in 2020 and continues to invest in companies expanding fossil fuel infrastructure, including 240 companies planning new coal projects. Reclaim Finance asserts that effective engagement requires public, time-bound demands for 1.5ºC alignment and absolute emission reductions by 2030, alongside the use of divestment for non-transitioning companies.

• BlackRock's historical record on climate-related shareholder voting is poor, having supported only 11% of such resolutions in 2020.
• The 2021 engagement guidelines are criticized for being too general and lacking a clear process for achieving immediate impacts, specifically regarding the request for companies to align with net zero GHG emissions by 2050.
• BlackRock's coal exclusion policy is described as weak because it excludes passively managed funds and covers only 17% of the coal industry, allowing the firm to invest in 240 companies planning new coal infrastructure.
• BlackRock holds over USD 110 billion in shares and bonds of companies involved in 12 large-scale, contested fossil fuel expansion projects.
• Reclaim Finance argues that engagement is ineffective without the threat of divestment and should be paired with specific demands, such as coal phase-outs by 2030 in EU/OECD countries and 2040 worldwide.

APA

admin (2020). BlackRock fails to adopt a robust engagement policy. Reclaim Finance. https://reclaimfinance.org/site/en/2020/12/11/blackrock-fails-to-adopt-a-robust-engagement-policy/

Chicago

admin. BlackRock fails to adopt a robust engagement policy. Reclaim Finance, 2020. https://reclaimfinance.org/site/en/2020/12/11/blackrock-fails-to-adopt-a-robust-engagement-policy/.

Wikipedia

{{cite press release |last1=admin |title=BlackRock fails to adopt a robust engagement policy |publisher=Reclaim Finance |date=11 December 2020 |url=https://reclaimfinance.org/site/en/2020/12/11/blackrock-fails-to-adopt-a-robust-engagement-policy/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2020blackrock, author = {admin}, title = {{BlackRock fails to adopt a robust engagement policy}}, publisher = {Reclaim Finance}, year = {2020}, month = dec, url = {https://reclaimfinance.org/site/en/2020/12/11/blackrock-fails-to-adopt-a-robust-engagement-policy/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }