With approximately $11.6 trillion in assets under management, BlackRock expressed satisfaction in resolving the matter with Tennessee. "BlackRock has always acted in the best interests of our clients, and we appreciate the chance to further demonstrate this through enhanced transparency regarding our practices," the company stated through a representative. Among the stipulations, BlackRock has agreed to provide quarterly disclosures instead of annual ones concerning the votes it casts, along with a justification when its non-ESG funds vote against management recommendations on environmental or social issues.