European asset managers greener than Americans, study finds

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🗞️ Driving the news: A study by ShareAction highlights a growing divide in green-finance practices between European asset managers and their US counterparts, such as BlackRock
• European firms are increasingly embracing environmental considerations, spurred by new EU regulations, while major US players are seen as lagging in their commitments

🔭 The context: The EU's green-finance laws, focusing on shareholder rights and corporate disclosures, aim to influence company decisions on environmental issues
• These laws are having a tangible impact, with European asset managers actively voting on climate and social issues

🌍 Why it matters for the planet: The differing approaches between EU and US financiers to green finance are critical in shaping global corporate strategies on climate change
• Effective asset management can sway significant corporate decisions, impacting carbon emissions and sustainable practices

⏭️ What's next: The divergence in green-finance strategies between these major markets may continue to grow, influenced by regulatory environments and investment philosophies
• This could impact the effectiveness of global efforts to address climate change and sustainability

💬 One quote: "The study offers 'a reason for optimism in responsible voting behaviour" (Emily Ahmed, ShareAction EU)

📈 One stat: In 2023, BlackRock voted in favor of only 8% of environmental and social shareholder resolutions, a decrease from 24% the previous year

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