Blogs

BlackRock released its Engagement Priorities and updated commentaries for 2023. Although the priorities are identical to 2022 (see below), consistent with Larry Fink’s annual letter to investors (which we reported on here), the narrative has been wordsmithed—seemingly in acknowledgement of criticisms aimed at BlackRock’s ESG focus and alleged micromanagement / overreach. Similar changes in tenor and text were made this past week on BlackRock’s Investment Stewardship website..

• Board quality and effectiveness (see updated commentary)
• Strategy, purpose, and financial resilience (see updated commentary)
• Incentives aligned with value creation (see updated commentary)
• Climate and natural capital (see updated commentary on climate | natural capital)
• Company impacts on people (see updated commentary on HCM | human rights)

We reported on BlackRock’s updated stewardship expectations and 2023 voting guidelines in December here.

See “BlackRock issues 2023 investment stewardship report” (Pensions & Investments), “BlackRock to keep questioning boards on 'material' climate risks” (Reuters), “BlackRock to Continue Engaging with Companies on Climate Strategy, Emissions Targets” (ESG Today), and additional information & resources on our Institutional Investors page »BlackRock.
 
             This post first appeared in the weekly Society Alert!