Still Processing
BlackRock is emphasizing the importance of risk oversight when it comes to climate and social issues with its proxy season votes. It's siding with companies that have a plan. And it appears that most companies already do.
The asset manager voted against 473 of the 493 environmental and social shareholder proposals it considered globally in the 12 months leading up to June.
Roughly two-thirds of those adverse votes were because the company already had "a process in place to address business risk" on the topic, according to its global head of investment stewardship.
BlackRock's support for E+S proposals has dropped from 47% in 2021 to 7% last year — and to 4% this year. It also voted against all 88 of the so-called anti-woke proposals in this year's E+S bucket.
First-Timers in Finance
The number of first-time CFOs hired at S&P 500 companies has hit its highest level in years, tying the previous record of 36 in the first half of 2022. Sources said it shows boards have been focusing on pipeline development during a period of intense churn across finance departments.
Keep Reading
Want more news for corporate board directors?
Sign up for a free trial to receive full access to Agenda.