I think every CEO of a large company knows that it would be difficult to have big changes at the federal level, because most corporate law is done at the state level.
The steps BlackRock is taking are baby steps, and we will have to watch and push hard for them to begin striding at the pace we need to go. But in some sense, the first step is often the hardest.
Either you commit to the science-based targets of the Paris climate agreement and align you operations, governance, political spending, lobby and trade association activities to achieve that target or we will vote against you and your directors.
Think about how passive that sentence is, then think about the behavior of ExxonMobil or Marathon petroleum, who through their capital expenditures and policy influence have actively undermined our ability to protect long-term investors and meet the goals of the Paris agreement.
