Mutual fund companies “falling short” in voting for shareholder resolutions on climate change
By Steve Schueth
Some of the largest U.S. mutual fund companies are “falling short” in voting for shareholder resolutions on climate change, says Ceres. The investor and public interest coalition singled out fund giants American Funds, Fidelity, and Vanguard in a new analysis of proxy votes conducted by Jackie Cook of Fund Votes. It also found that some voting is “misaligned” with some fund firms’ public positions on climate change: pointing to UN Principles for Responsible Investment signatories such as BlackRock and AllianceBernstein, which supported less than 5% of climate-related resolutions in 2011. Link to Ceres Press Release
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Posted: May 17, 2012