Over the past two months, both BlackRock Investment Stewardship (“BlackRock”) and State Street Global Advisors (“SSGA”) have released updates to their proxy voting policies. In December, BlackRock released its 2021 proxy voting guidelines together with a report summarizing its stewardship expectations for the coming year. Specifically, BlackRock noted that its 2021 engagement focus will be on (i) board and workforce diversity, (ii) understanding key stakeholders and their interests and (iii) alignment with the global goal of net zero GHG emissions by 2050. More recently, on January 26, BlackRock released Chairman and CEO Larry Fink’s annual letter to CEOs and its Executive Committee’s letter to clients, both of which further emphasized BlackRock’s increased efforts around climate change.
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