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Large fund firms' support for combating climate change is all talk, as proxy voting record shows bottom performance

Eric Rosenbaum

Two of the biggest index fund providers, Vanguard Group and BlackRock, have been more vocal in recent years on the subject of corporate responsibility. As two of the world's largest asset-management companies, with more than $11 trillion invested on behalf of fund shareholders, they also are among the largest shareholders of stocks in the world. A recent analysis of their proxy voting records on climate change shows them to be among the worst in the fund industry, but they are not alone.