Recently, BlackRock Chairman & CEO Laurence D. Fink released his annual letter to CEOs.
In the letter, Fink urged companies to prioritize making a positive contribution to society or risk alienating BlackRock – and losing the support of one of the most prominent investors in the world. As you can imagine, the letter has caused a bit of a stir in the financial community.
Fink listed some of the areas in which companies can improve their efforts – including environmental impact, wage growth, technological innovation, and more.
We at Ipreo thought we would take a look at the how these kinds of efforts usually sit with shareholders by exploring the recent history of social proposals at Russell 3000 Companies.
“To help place BlackRock’s wish list into perspective, it would be helpful to review the overall interests of shareholders, as measured by the types of social impact proposals that have received significant shareholder voting support. Please note that vote results are presented as supporting management’s recommendation – generally against the proposal.”
Read the entire report, the first in a three-part series: BlackRock, Social Responsibility, and the Voice of the Shareholder