Investment Stewardship

As an independent, fiduciary asset manager, BlackRock is committed to acting at all times in the best long-term interests of our fund investors. We undertake our investment stewardship activities to protect and enhance the economic value of the companies in which we invest on their behalf.

BlackRock's investment stewardship team is based in five key regions – the United States, Europe, Japan, Hong Kong and Australia – and undertakes engagement with and proxy voting at portfolio companies on behalf of fund investors globally.

BlackRock aims to take a common view in-house regarding our engagement and voting policies and utilises the investment stewardship group to coordinate, communicate and carry out these policies across the 85+ markets and approximately 15,000 shareholder meetings at which BlackRock votes each year.

BlackRock has developed regional guidelines for the key markets in which it invests. These guidelines incorporate the legal framework of each region as well as the specific market practices. There may be slight inconsistencies due to differing market practices across regions.

While we subscribe to research from the proxy advisory firms ISS and Glass Lewis, it is just one input into our vote analysis process, and we do not follow their recommendations on how to vote. Other sources of information we use include the company’s own reporting (such as the proxy statement and the website), our engagement and voting history with the company, Environmental, Social And Governance (ESG) research and our portfolio managers.

In certain instances BlackRock may determine to engage an independent fiduciary to vote proxies as a safeguard to avoid potential conflicts of interests or as otherwise by applicable law.

We inform clients about our voting and engagement policies and activities through direct communication and through disclosure on our website. On a quarterly basis, we publish reports which provide an overview of our investment stewardship activities during the quarter, including regional market developments, engagement highlights and key votes. We also make public our market-specific voting guidelines for the benefit of clients and companies with whom we engage. All of these reports are available at https://www.blackrock.com/corporate/about-us/investment-stewardship.