Wall Street investment giants voting against key climate resolutions

Asset management companies BlackRock Inc and Vanguard have failed to live up to pledge to support climate action at energy firms

Some of Wall Street’s largest asset management companies are failing to live up to commitments to use their voting power to fight the climate crisis, according to a new report.

The report, published on Tuesday by the Washington DC-based Majority Action and the Climate Majority Project, claims that BlackRock Inc, the world’s largest asset manager with more than $6tn under management, and Vanguard, with assets of $5.2tn, have voted overwhelmingly against the key climate resolutions at energy companies, including a resolution at ExxonMobil’s annual shareholder meeting, and at Duke Energy.

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