Biggest US index funds oppose most climate proposals in shareholder votes (CNBC)

https://www.cnbc.com/2019/10/08/biggest-us-index-funds-oppose-most-climate-proposals-in-shareholder-votes.html

• Votes on climate-related shareholder resolutions often take center stage at corporate annual meetings, though seldom draw support from the two top U.S. index fund firms, BlackRock and Vanguard Group.
• BlackRock and its top rivals have not put forward any proposals of their own since at least 2001, according to research firm FactSet.
• The top index fund firms say they prefer to address issues they have with portfolio companies, including those related to climate change, in private talks with executives rather than through shareholder votes.

Author: Christopher K. Merker, Ph.D., CFA

Christopher K. Merker, PhD, CFA, is a director with Private Asset Management at Robert W. Baird & Co. and executive-in-residence and co-director of the Marquette S-Lab. He is also founder and chair of the board of Water + Energy Forward, a green bank focused on market-based climate solutions. He holds a PhD in investment governance and fiduciary effectiveness from Marquette University, where he has taught “Sustainable Finance” since 2009. He publishes Sustainable Finance and is co-author of The Trustee Governance Guide: The Five Imperatives of 21st Century Investing.

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