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2 months ago
Switching sides, BlackRock says supported climate change report at Occidental Petroleum
May 12, 2017 / 4:07 PM / 2 months ago

Switching sides, BlackRock says supported climate change report at Occidental Petroleum

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BOSTON, May 12 (Reuters) - Asset manager BlackRock Inc on Friday said it voted in favor of a shareholder proposal calling on Occidental Petroleum to report on the impact climate change could have on the energy company's business.

BlackRock, a major Occidental investor, last year had opposed a similar resolution, which failed get a majority of support from investors. In a statement sent by a BlackRock spokesman explaining the switch, the fund firm said that despite talks with Occidental, "we remain concerned about the lack of discernable improvements to the company's reporting practices" on climate issues.

Reporting by Ross Kerber

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