FT writes, BlackRock has warned that it will not be supporting most shareholder resolutions on climate this year because they have become too extreme or too prescriptive.
Turns out if you are in business to make money…you better!
The world’s largest money manager, with nearly $10tn in assets, said Russia’s invasion of Ukraine had also changed the environment, requiring more short-term investment in traditional fuel production to boost energy security.
The group said it was particularly wary of proposals to stop financing fossil fuel companies, force them to decommission assets or set absolute targets for companies on reducing emissions in their supply chains and their customers.
Wake up call anyone?
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