On April 14,2023, BlackRock, Inc announced that it has received a shareholder proposal from Paul Rissman requesting the company Board of Directors to produce a report specifying whether and how the Company could improve its pension fund clients' investment returns, by focusing its climate-related investment stewardship and proxy voting to engineer decarbonization in the real economy, mitigating the Company's forecast cumulative loss in global output, due to unabated climate change, of nearly 25% in the next two decades, thereby improving financial returns to the Company shareholders. In addition, the Company urged the shareholders to vote against the shareholder proposal at its annual general meeting of shareholders scheduled to be held on May 24, 2023.