Top asset manager BlackRock, which has vowed to put

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  • 22 Apr 2020
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Blackrock Says Sustainability Reports Might Slide During Pandemic

Top asset manager BlackRock, which has vowed to put more focus on climate issues, said that companies might give a lower priority to sustainability reports as they struggle with the COVID-19 pandemic. In a stewardship document provided by a BlackRock spokesman, the firm suggested it would tolerate the change. The details marked some early specifics from the world’s largest asset manager about its expectations for companies dealing with the sudden economic shock stemming from the deadly respiratory virus. BlackRock earlier this year outlined tougher policies for the influential proxy votes it casts at springtime annual meetings, including a focus on having companies report more details about topics like their emissions and water pollution. In its new stewardship document, the company said it had been told by some companies that certain non-financial projects like sustainability reports had been “de-prioritized” due to COVID-19. BlackRock said it would “expect a return to companies focusing on material sustainability management and reporting in due course.”

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