The three largest American asset managers’ interest in pushing environment, social, and governance (ESG) policies has plummeted, according to a Thursday report.
BlackRock, State Street, and Vanguard’s support for environmental shareholders proposals dropped significantly. State Street said it supported only six percent of environmental shareholder proposals in the first half of the year and only seven percent of social ones, which is a drop compared to 2023.
Vanguard said in August it did not back those resolutions, and BlackRock said it voted for four percent of the ESG proposals in the year prior to June, making a seven percent decline from a year before.
Bloomberg reported:
Together, the three money managers have immense influence during proxy season because they collectively own about 20% of the shares of all companies in the S&P 500, mainly through their enormous index-tracking funds. The drop in support is a stark turnaround from 2021, when they voted in favor of a record number of proposals that focused on topics such as climate change, workforce diversity and human rights. The so-called Big Three are taking a more circumspect view of such shareholder proposals, said Lindsey Stewart, director of stewardship research and policy at Morningstar Sustainalytics.
“It’s clear that the political climate, and the rise of anti-ESG resolutions and legislation, has played at least some role in the decline in proxy voting support. But the fact is, even some of the pro-ESG resolutions were badly worded or lacked a clear benefit to shareholders, so it’s not surprising that firms rejected many of these resolutions,” Stewart explained. […]
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At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
