INSIGHTS & VIEWS
INVESTMENT INSIGHTS
Our thought leadership in investing, risk management, portfolio construction and trading solutions.
INVESTMENT INSIGHTS
Our thought leadership in investing, risk management, portfolio construction and trading solutions.
See how we have updated our global principles and voting guidelines for 2021.
Learn moreWe emphasize direct dialogue with companies on governance issues that have a material impact on sustainable long-term financial performance.
We perform independent research and analysis, carefully arriving at proxy vote decisions, including the re-election of directors, that are consistent with our voting guidelines and that we believe are in the best long-term economic interest of our clients.
We engage on public policy issues and participate in market-level dialogue to contribute to the development of policies and practices that support stewardship, long-term investing and sustainable shareholder returns.
Read More About Public PolicyWe determine our engagement priorities based on our observation of market developments and emerging governance themes, and evolve them year over year as necessary.
We focus on board composition, effectiveness and accountability as a top priority. In our experience, high standards of corporate governance are the foundations of board leadership and oversight. We engage to better understand how boards assess their effectiveness and performance, as well as their position on director responsibilities and commitments, turnover and succession planning, crisis management and diversity.
Our Approach to Engagement on Board DiversityKey performance indicators
Sound practices in relation to the material environmental factors inherent to a company’s business model can be a signal of operational excellence and management quality. Environmental factors relevant to the long-term economic performance of companies are typically industry-specific, although in today’s dynamic business environment some, such as regulation and technological change, can have a broader impact. Corporate reporting should help investors and others understand the company’s approach to these factors and how risks are mitigated and opportunities realized.
Our Approach to Engagement on Climate Risk Our Approach to Engagement on TCFD and SASB Aligned Reporting Our Approach to Engagement with Agribusiness Companies on Sustainability Emissions, Engagement, and Transition to a Low-Carbon EconomyKey performance indicators
We expect boards to be fully engaged with management on the development and implementation of the company’s strategy. Companies should succinctly explain their long-term strategic goals, the milestones that demonstrate progress, and any obstacles anticipated or incurred. They should also explain how capital allocation decisions align with the company’s long-term strategy.
Our Approach to Engagement on Strategy, Purpose and CultureKey performance indicators
We expect executive pay policies to use performance measures that are closely linked to the company’s long-term strategy and goals to ensure executives are rewarded for delivering strong and sustainable returns over the long-term, as opposed to short-term hikes in share prices.
Our Overarching Approach to Executive CompensationKey performance indicators
In a talent constrained environment, we view a company’s approach to human capital management as a potential competitive advantage. We expect disclosure around a company’s approach to ensuring the adoption of the sound business practices likely to support an engaged and stable workforce.
Our Approach to Engagement on Human CapitalKey performance indicators
We have the largest global stewardship team in the industry with over 50+ people across 8 offices who have regional presence and local expertise across 85 voting markets. This globally coordinated team enables us to better understand the context within which a company is operating. We are positioned as an investment function because investment stewardship is core to long-term value creation.
Learn More About Our Investment Stewardship Teamteam members
global offices
meetings voted
voting markets
engagements
markets where we engage
Our 2021 Stewardship Expectations
How BlackRock Investment Stewardship Manages Conflicts of Interest
Our voting guidelines are the benchmark against which we assess a company’s approach to corporate governance. Our guidelines are applied on a case-by-case basis, taking into consideration specific circumstances at a company, as well as regional market and policy developments.
Asia ex Japan, Chinese & Hong Kong Securities
European, Middle Eastern & African Securities
The statements below set out how BlackRock adheres to stewardship codes and other market-level stewardship related requirements.
Our Response to the IFRS Foundation's Consultation on Sustainability Reporting
BlackRock Investment Stewardship's Perspective on Corporate Political Activities
Sustainability Reporting: Convergence to Accelerate Progress
Our Response to the HKEX Consultation on Corporate Weighted Voting Rights
Our Response to the Japan Stewardship Code Consultation
Best Practices When Using an Independent Fiduciary in Proxy Voting
Emissions, Engagement, and Transition to a Low-Carbon Economy
Securities Lending Viewed through the Sustainability Lens
Our Approach to Engagement with Agribusiness Companies on Sustainable Business Practices
Our Response to APRA on Strengthening Prudential Requirements for Remuneration
Consultation to Securities and Exchange Board of India on Issues Related to Proxy Advisors
Our Response to the HKEX Consultation on ESG Disclosure
BlackRock Investment Stewardship's Approach to Engagement with the Palm Oil Industry
Consultation Paper on the Issuance of Shares with Differential Voting Rights - SEBI
SEC Comment Letter - Staff Roundtable on the Proxy Process
The Investment Stewardship Ecosystem Viewpoint
Voting Rights and Index Inclusion
Our Response to the CSRC Consultation on the Revised Code of Corporate Governance
Consultation on Corporate Governance Code of French Listed Corporations – AFEP and MEDEF
Consultation on Listing Regime for Companies from Emerging and Innovative Sectors – HKEX
Consultation Paper on Recommendations of the Corporate Governance Council – MAS
BlackRock’s Approach to Companies that Manufacture and Distribute Civilian Firearms
Key Considerations in the Debate on Differentiated Voting Rights
This report outlines our engagement approach and voting on climate risk and other sustainability topics.
These reports provide an annual overview of BlackRock’s Investment Stewardship voting and engagement activities for each year.
Annual Voting and Engagement Reports
Annual Statistic Reports
2020
BlackRock Investment Stewardship publishes quarterly stewardship reports to demonstrate our approach to corporate governance. For 2020, we have consolidated our regional quarterly reports into a single global report that highlights our perspective on a wide range of global issues as well regional case studies that illustrate our engagements and voting analyses in a given quarter.
2019
These reports summarize our global company engagement activity year-to-date. The engagement details include the specific topics discussed with each company engaged. We will update this report quarterly until year-end to show a rolling year of engagement activity.
View complete vote records filed with the U.S. Securities and Exchange Commission on form N-PX for the reporting period of July 1, 2019 through June 30, 2020.
BlackRock Investment Stewardship’s vote instructions for individual meetings globally. This record reflects votes at meetings held since July 1. It is updated quarterly until June 30 each year, when it is superseded by BlackRock’s annual Form NPX filing.
Proxy vote information disclosed on this site reflects the position of BlackRock Investment Stewardship. Portfolio managers have full discretion to vote the shares in the funds they manage based on their analysis of the economic impact of a particular ballot item. While ballots are frequently cast in a uniform manner reflecting the position of BlackRock Investment Stewardship, portfolio managers may, and sometimes do, vote shares in the funds under their management different from the BlackRock Investment Stewardship position. These votes are not reflected on this site, but are disclosed on Form N-PX filings to the extent required by law.
These bulletins explain our vote decision, and the engagement and analysis underpinning it, on certain high-profile proposals at company shareholder meetings. We make this information public after the meeting, so clients and others can be aware of the vote when it is most relevant to them.
2021 Vote Bulletins
2020 Vote Bulletins
2019 Vote Bulletins
2018 Vote Bulletins
2017 Vote Bulletins