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BlackRock, Vanguard Accused Of Opposing Shareholder Efforts On Climate
This headline makes the accusation sound like a new thing. They've been blocking such proposals for years while claiming to be eco-friendly. It's a classic case of short-term thinking failing to address long-term problems which will affect everyone including Wall Street and the companies these index funds invest in. Yet they claim to think long-term because they index and must buy and hold companies forever. Their failure to support more of these proposals suggests otherwise.
They stated fairly recently that they were going to become better citizens. It's the fact that their behavior hasn't changed that's the news.
They're making the same tired claims - we can do more in secret, behind closed doors than we can with our (fairly massive) votes in the open. Trust us.
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They're making the same tired claims - we can do more in secret, behind closed doors than we can with our (fairly massive) votes in the open. Trust us.