BlackRock

New York, New York
Diversified Financials

Corporate Bias Rating

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Risk Level:

Rating - Danger
High Risk

Summary:

BlackRock scored a 100 on the 2023 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. The company leverages its managed assets to coerce corporate change via proxy votes and other channels to accomplish its goals related to climate change, racial equity, and gender identity. The asset manager will use discretion in lending to ban certain industries, such as guns/ammo and oil and gas, in some cases. By complying with the HRC’s controversial demands, BlackRock increases the risk of dividing employees, alienating customers and harming shareholders. The company covers transgender-related medical costs for its employees and their children and provides specific sexual orientation and gender identity-based benefits. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. BlackRock forces employees to undergo multiple ideological trainings and uses its reputation, corporate funds, and political influence to support controversial sex and gender ideologies, organizations, and legislation. BlackRock provides a benefits package for employees which covers travel/lodging costs for an abortion and transgender medical procedures for covered employees and dependents, including children. America First Legal filed a letter with the EEOC requesting a civil rights investigation into BlackRock over discriminatory practices in hiring. The company is an advocate for the Equality Act and has denounced state legislative efforts to reform its electoral process in 2021. BlackRock is a signatory of the Business Roundtable's 2019 Statement on the Purpose of Corporation, which promotes stakeholder capitalism. It has also funded Planned Parenthood. BlackRock is a member of the Ceres Network, Climate Action 100+, PCAF, and the Net Zero Asset Managers Initiative. The company is a signatory to the CFA Institute’s Diversity, Equity, and Inclusion Code, indicating its support of DEI in its recruitment, hiring, onboarding, and promotions. Furthermore, the company pledges to integrate DEI into its policies, promote DEI in the investment industry, and provide regular reporting on its DEI metrics to the CFA Institute. For these reasons, BlackRock receives a High Risk rating.

Board Bias

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CEO of BlackRock

Laurence D. Fink

Laurence D. Fink

Summary:

Headquartered in New York, New York, BlackRock is a member of the Fortune 250 operating in the Diversified Financials industry. Laurence D. Fink and Laurence D. Fink serve as CEO/President and Chairman, respectively, leading the company’s C-suite executive team and the board of directors. Amongst these teams, the collective leadership is responsible for $1,184,252 to Republican causes and $516,368 to Democratic causes. Under their tenure, BlackRock currently holds a 'High Risk' risk rating.

Political Contributions of Leadership:

$1,184,252

$516,368

Republican

Democrat

Shareholder Proposals

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Date
ESG Category
Proponent
Summary of ResolutionMgmt RecTotal Vote % in Favor
5/24/23EnvironmentalPaul RissmanReport on Climate-Related Investment StewardshipAgainst9.50%
5/24/23SocialCODEPINKReport on Societal Impacts of Defense Industry ETFAgainst7.60%
5/24/23SocialNational Center for Public Policy ResearchCivil Rights, Non-Discrimination and Returns to Merit AuditAgainst1.10%
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