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Vanguard Joins BlackRock to Cut Back Support for Shareholders’ ESG Proposals

It backed only two percent of such proposals at U.S. company meetings across during the 2023 proxy season.
Vanguard Joins BlackRock to Cut Back Support for Shareholders’ ESG Proposals
Giant wind turbines are powered by strong winds in front of solar panels in Palm Springs, Calif., on March 27, 2013. Kevork Djansezian/Getty Images
Bill Pan
Bill Pan
Reporter
8/29/2023|Updated: 8/29/2023
0:00

Index fund giant Vanguard on Monday said it has narrowed support for shareholder resolutions on environmental, social, and governance (ESG) issues, backing only 2 percent of such proposals at company meetings across the United States during the 2023 proxy season.

In a report on its most recent voting history, the $7.2 trillion asset manager said this year has seen a record number of ESG proposals being brought up for a vote.

Bill Pan
Bill Pan
Reporter
Bill Pan is an Epoch Times reporter covering education issues and New York news.
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