BlackRock Inc. said it may cast proxy votes to influence firearm manufacturers and retailers who sell guns, according to a press release posted to its website.
The world's largest asset manager may vote against specific directors or against management on shareholder proposals. The asset manager is the largest shareholder in two publicly traded gunmakers and the second-largest in a third, CNBC reported.
BlackRock offers some investment products that exclude gunmakers and retailers that sell guns and is exploring the idea of index-based products that exclude them.
BlackRock also disclosed that it has had constructive discussions with some major publicly traded civilian firearms manufacturers and retailers on their business practices over the past week, in the wake of a deadly school shooting in Florida. The company will continue to engage these companies, it said.
"The recent tragedy in Florida has driven home for BlackRock the terrible toll from gun violence in America," the company said.
