How BlackRock and Vanguard Gave a Big Middle Finger to Climate Action While Backing the Oil Giant’s Eco-Villainy
In the latest episode of “Let’s Pretend We Care About the Planet,” the world’s two largest money managers have decided that climate change just isn’t that big of a deal—at least not “financially material.” That’s right, folks. These titans of finance, sitting on a mountain of $10 trillion and $9 trillion respectively, have basically told the world to shove it when it comes to supporting climate resolutions.
BlackRock, that beacon of corporate responsibility, supported a whopping 20 out of 493 climate proposals this year. For those keeping score, that’s less than 4%—a steep drop from the days when they could at least pretend to care, like in 2021 when they backed nearly half of all climate resolutions. But hey, why bother saving the planet when you can continue raking in cash from sin stocks like Shell? And Vanguard? Oh, they took it up a notch by supporting exactly zero, zilch, nada, out of over 400 environmental and social proposals. Guess the idea of saving the world isn’t “financially material” enough for them either.
Posted by John Donovan: 5 July 2024
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
