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Photo: Hannes Breustedt/picture alliance via Getty Images

BlackRock, in a report published Tuesday, said this year it has used its shares to take "voting action" against 53 companies that are "making insufficient progress integrating climate risk into their business models or disclosures."

Why it matters: The tally is an early sign of how BlackRock is implementing one element of its wider plan unveiled early this year to make climate change more central to its strategy.

  • Most of those votes were against members of boards of directors, while some were in support of various climate-related shareholder proposals.
  • Of those 53 companies, 37 were energy companies with a combined market capitalization of $408 billion, BlackRock said.

The other side: "[T]his shareholder season BlackRock took only baby steps forward by voting the right way on a fraction of the climate tests on the table, and claiming that stronger action is on the way," said Ben Cushing of the Sierra Club, one of several groups that said BlackRock hasn't done enough.

Where it stands: Overall, BlackRock said that it has identified 244 companies that are not doing enough.

  • Beyond the 53 that they prodded with shareholder votes to show their displeasure, BlackRock said that "We have put the remaining 191 companies ‘on watch.’"
  • "Those that do not make significant progress risk voting action against management in 2021," the company said.

Go deeper:

Go deeper

Ben Geman, author of Generate
Sep 30, 2020 - Energy & Environment

Energy industry veterans form SPAC to take climate startups public

Illustration: Rebecca Zisser/Axios

A group of energy industry veterans announced Tuesday that they are launching a special purpose acquisition company (SPAC) aimed specifically at taking climate tech startups public.

Why it matters: They're self-branding as "the world’s first climate-focused" SPAC to launch.

UN report: Pandemic set to cost global tourism $2 trillion in 2021

A tourist in front of the Eiffel Tower on November 25, 2021 in Paris. Photo:Chesnot/Getty Images

A new United Nations report warns that global tourism will see only modest revenue gains in 2021 after last year's historic losses amid the COVID-19 pandemic.

Why it matters: Tourism revenues in 2020 fell by more than half from the previous year — a significant blow to the global economy, according to analysis by the UN World Tourism Organization (UNWTO).

Updated 2 hours ago - Health

2 federal judges temporarily block Biden vaccine mandates

President Biden delivers remarks on the Omicron COVID-19 variant at the White House on Nov. 29. Photo: Anna Moneymaker via Getty Images

The Biden administration was temporarily blocked from enforcing COVID-19 vaccine mandates for millions of workers by federal judges in two states on Tuesday.

The big picture: The orders, by federal judges in Kentucky and Louisiana, come one day after a federal judge in Missouri halted the mandate, which has a Jan. 4 deadline, in 10 states.