“It’s clear there are investors who don’t want to sit on the sidelines; they have a view on corporate governance, and they want a meaningful way to express those views,” Fink wrote in a letter to clients and company chief executives. “Voting Choice has the power to transform the relationship between asset owners and companies.” BlackRock’s initiative to empower shareholders comes as the $8tn manager is under attack for its votes on environmental, social and governance matters. Republican treasurers in conservative US states have pulled more than $1bn from the group, alleging that it is hostile to fossil fuels. Some Democrats complain that the fund manager should be pushing companies harder to reduce carbon emissions.

https://www.ft.com/content/6446b81f-a1b4-492f-b335-62f0efe11e7c