If you follow Supplierty News (formerly Global Diversity News), then you know that Blackrock has been a huge supporter of diversity initiatives. The billion dollar asset management firm has done its fair share to ensure corporations are investing in diversity by voting for inclusive policies with invested corporations. According to Reuters “As a major shareholder in most public companies, BlackRock has also been pressured by activists to back shareholder-fronted propositions and vote against boards to prompt better corporate citizenship.”
Blackrock CEO Larry Fink in a recent interview at the Bloomberg Global Business Forum double downed on the belief that diversity, in particular gender diversity, is a necessity for the future. At Blackrock, “39 percent of its employees are women, and that 43 percent of its total hires in 2016 and 29 percent of those brought on in senior leadership positions last year are women.” According to Fink, “BlackRock has…seen greater interest from investors in environmental, social and corporate governance issues as a result of the United States potentially leaving the landmark 2015 Paris climate pact.” With this Blackrock plans to continue its support of diversity policies while looking to increase diversity within its own ranks.
During the second quarter of 2017, “BlackRock voted for eight proposals pushing U.S. and Canadian companies to adopt policies to boost their boards’ diversity.” The company continues to make it a priority in their investing decisions and hopes to bring about change in the hiring and promotion practices of its invested organizations.