In those cases, eight proposals would have received majority support if BlackRock had supported them and 19 would have received support of a majority of shareholders if both BlackRock and Vanguard had supported them, they said." [Italics added.] The letter chastises BlackRock for its failure to support these proposals and for shielding "issuers from much-needed transparency and accountability on policy influence activities that impact sustainable value creation. While we welcome BlackRock's recognition of the risks to investors from misaligned corporate political spending in its December commentary, BlackRock's updated proxy voting guidance from December 2020 still does not offer sufficient clarity to clients and issuers on the standards to which it will hold boards on political spending disclosure."