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Their influence is significant. But they don’t use it. Worse, despite their participation in several climate initiatives, Asset management giants are “blocking progress on environmental and social issues,” ShareAction laments. The four biggest players (BlackRock, Vanguard, State Street Global Advisors and Fidelity) supported fewer votes in favor of the climate at general assemblies last year than the year before. This, while defending the virtues of sustainable finance.
