1. Drop in BlackRock's Support for Environmental, Social Resolutions

    Drop in BlackRock's Support for Environmental, Social Resolutions

    LONDON (Reuters) - BlackRock Inc, the world's No.1 asset manager, reported on Tuesday a sharp drop in its support for environmental and social-related shareholder resolutions, saying many were too prescriptive, while its backing for directors and executive pay held steady. BlackRock had warned in May it would back fewer shareholder resolutions because many were too constraining, requiring banks, for example, to stop funding energy companies, or directing their climate lobbying activities...

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    1. We observed a marked increase in E&S shareholder proposals that went to a vote and many more proposals were unduly constraining on management or were overly prescriptive as to information sought or timeframes.
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