ESG: ValueAct Salutes the BlackRock “Climate Change of Heart”

ValueAct has a new ally on sustainability-related proxy votes

ValueAct founder Jeffrey Ubben expressed his excitement about BlackRock’s updated stance on climate change. Earlier this week, Black chief Larry Fink had sounded an alarm in a letter to CEOs.

Ubben is one of the biggest supporters of environmental factors in corporate governance.

ValueAct founder Jeffrey Ubben on BlackRock

In early 2018, Ubben launched the ValueAct Spring Fund that focused on the promotion of environmental and social goals at companies in which it invests. Ubben also told Reuters this week that BlackRock’s shift on climate change may help it reach its long-term goals.

“Now I can call three shareholders [in BlackRock, Vanguard and State Street], Ubben said, discussing his goals to cast proxy votes around sustainability.

Meanwhile, BlackRock faced years of criticism over its fossil fuel investment policies. Things got so intense that protestors started gluing themselves to BlackRock’s London office doors.

This week, Larry Fink took a more proactive stance on sustainable investing.

Fink sent an annual letter to CEOs and argued that sustainable investments that address climate change will provide better returns in the future. Fink wrote: “In the near future — and sooner than most anticipate — [climate change would cause] a significant reallocation of capital.”

Related: Hedge Funds: BlackRock To Back Up ESG Rhetoric With Action

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Alternative Investments: Accelerate Launches An ETF For Alternative Assets
November 25, 2020     Alternative Investments, News

Accelerate Financial Technologies launched its OneChoice Alternative Model Portfolio in September. Aimed at hard-pressed advisors and portfolio managers, the strategy offered a quick and easy way to put together a…
Digital Assets: Japanese Financial Group SBI Launches Crypto Lending
November 25, 2020     Digital Assets, News

SBI Group (TYO: 8473) is launching a crypto lending service through SBI VC Trade, its crypto-focused exchange subsidiary. SBI said it will initially allow customers to tender only bitcoin (BTC),…
FinTech: Hippo Insurance Gets $350M Funding From Mitsui Sumitomo Insurance
November 25, 2020     FinTech, News, Venture Capital

Hippo, the home insurance unicorn, announced Tuesday an investment of $350 million from Mitsui Sumitomo Insurance Company, Limited, a subsidiary of MS&AD Insurance Group Holdings, Inc. In July, Hippo raised…
Venture Capital: Astanor Ventures Launches $325M Fund For Impact Investing in Agtech

Based in Luxembourg, Astanor Ventures combines capital, technology, and sector expertise to invest in businesses that build regenerative, scalable, and nourishing food solutions. Using this philosophy, Astanor has invested in…