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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

Sources: Responsible-Investor.com; Ceres

NOTE: Mention of specific companies or securities should not be considered a recommendation to either buy or sell that security. For information regarding the suitability of any investment for your portfolio, please contact your financial advisor.

Posted: May 17, 2012