Environmentalists Smell Blood With BlackRock Vote

BlackRock is a highly profitable and influential global investment management firm based out of New York City. After being pressured by climate activists and some of their clients, BlackRock recently announced they would put an emphasis on concerns surrounding climate change and recently followed through punishing over 50 companies while putting almost 200 other firms at risk. Not surprisingly, environmentalists demand more since they claim what has already been undertaken by BlackRock isn’t enough. This is a crystal clear example of why environmentalists (the Left more generally) cannot be reasoned or bargained with and to never give in to their demands since their dissatisfaction is really a tactic geared to destroy an entity from within. The Left is best described in the movie Independence Day when someone realizes the kind of alien species (Harvesters) Earth is up against:

They’re like locusts. They’re moving from planet to planet… their whole civilization. After they’ve consumed every natural resource they move on… and we’re next.

BlackRock cast tougher climate votes, environmentalists want more

By Ross Kerber, Reuters

BOSTON (Reuters) – BlackRock Inc (BLK.N) released figures showing it took a tougher stance on climate matters in the springtime proxy season, though it drew criticism from environmentalists claiming the top asset manager failed to back up its recent emphasis on the area.

BlackRock of New York said in a report on Tuesday that it voted against management at 53 companies worldwide, most of them energy companies, for “lack of progress” on climate concerns during the 2020 proxy season, and warned another 191 companies to take faster action.

A BlackRock spokesman said via email its critical voting at 53 companies compared to critical votes it cast at six companies in 2019, indicating a tougher overall approach.

With some $7 trillion under management BlackRock wields much influence on Corporate America’s boardrooms. Under pressure from clients and activists, BlackRock had said it would put a new focus on climate change concerns after supporting shareholder resolutions on the topic only about 10% of the time in the past.

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PHOTO CREDIT: By Maler der Grabkammer des Horemhab – The Yorck Project (2002) 10.000 Meisterwerke der Malerei (DVD-ROM), distributed by DIRECTMEDIA Publishing GmbH. ISBN: 3936122202., Public Domain, https://commons.wikimedia.org/w/index.php?curid=154302