Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Ballotpedia
Ballotpedia
Politics
James McAllister

BlackRock announces plans to allow investors to vote their own proxies

The Big Three passive asset management firms—BlackRock, State Street, and Vanguard—have been criticized for using investors’ money in pursuit of political goals. The firms use the funds that they invest on behalf of their clients and vote the proxies that, outside of a pooled index or mutual fund, investors would typically vote themselves. ESG critics have said that such practices undermine shareholder rights.

BlackRock has responded to this criticism by promising to give their clients the ability to vote the proxies associated with their stock shares. The firm began allowing some large institutional clients to vote their proxies last year and is preparing to open the option to more investors.

Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To learn more about arguments for, against, and about ESG, click here. For more information on reform proposals related to ESG policy, click here.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.