BlackRock to Give Clients More Voting Power After ESG Scrutiny

BlackRock Inc. plans to give millions of US investors more voting power at shareholder meetings after taking heat from both ends of the political spectrum that the firm has too much sway over ESG issues.

The world’s largest asset manager intends to let shareholders of its S&P 500 ETF pick from a set of voting policies for the 2024 proxy season, the New York-based firm said in a statement Monday. Pensions, endowments and other institutional clients with a combined $555 billion of assets at the end of March already participated in BlackRock’s “voting choice” program.

“BlackRock is committed to a ...