NYC comptroller urges city pensions to drop BlackRock, other managers over climate concerns

The NYC comptroller said he has “significant concerns regarding BlackRock’s restrictive approach” to engaging with public companies it owns more than 5% of the equities. The asset manager said it will not proactively reach out to on proxy voting issues to align with a “conservative interpretation” of the Securities and Exchange Commission’s updated engagement guidelines.“The systemic risk of the climate crisis threatens the long-term value of New York City’s pension funds,” Lander said. “Our Net Zero plan i ...