BlackRock’s support for shareholder proposals focused on environmental and social issues has plummeted for a second consecutive year, even as the number of proposals has soared.

The world’s largest asset manager said it supported 26 out of 399, or 7%, of proposals focused on environmental and social considerations. That is down sharply from a year ago, when BlackRock supported 22% of 321 such measures and 47% of 172 the year before.