B REUTERS/Shannon Stapleton/File Photo Acquire Licensing RightsCompanies BlackRock Inc FollowAug 23 (Reuters) - Top asset manager BlackRock on Wednesday reported a further decline in its support for shareholder resolutions on environmental and social themes, citing corporate progress on the areas and poor crafting of the measures by filers.
In an annual stewardship report being released with the end of the 12-month corporate annual meeting cycle on June 30, New York-based BlackRock said it supported 7% of 399 shareholder proposals on environmental and social issues.
In the newest report BlackRock said many of the measures called for changes that would not be helpful to companies in its funds.
Data has previously shown investor support slipping for many resolutions, and as companies strike compromises with activists.
BlackRock has been under fire from conservative U.S. politicians who say it has over-emphasized sustainability issues, citing past proxy votes.
Persons:
Shannon Stapleton, BlackRock, Ross Kerber, Isla Binie, Simon Jessop, Sonali Paul
Organizations:
REUTERS, BlackRock, filers, Thomson
Locations:
BlackRock, New York, U.S, Boston, London