Updated for 2026 Proxy Season: The Big Three & ESG – A Guide to BlackRock, State Street & Vanguard Proxy Voting Policies & Guidance on Key ESG Issues
Last week, State Street published its Global Proxy Voting and Engagement Policy for the 2026 proxy season. Similar to the 2026 policies for BlackRock and Vanguard, State Street has removed references to board diversity considerations and has scaled back its expectations as to sustainability-related disclosures.
The attached chart includes policies for BlackRock, State Street and Vanguard (the Big Three) for the 2026 proxy season. It summarizes the expectations of the Big Three as to company practices and disclosures around selected ESG topics, and highlights where failing to meet expectations may result in votes against directors.
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