by Jeff Conant, Friends of the Earth and Moira Birss, Amazon Watch After years of pressure from shareholders and legislators, BlackRock finally seemed ready to acknowledge the climate crisis in January, when it announced it would “place climate at the center of its investment strategy.” On the surface, the move seemed to send a clear […]
In January 2020, BlackRock announced it would place climate at the center of its investment strategy, stating that “climate risk is investment risk.”[1] While the decision included a divestment from coal, greater engagement with polluting companies, and placing sustainability at the core of its strategy, it notably lacked an explicit commitment to address deforestation or […]
We grieve with the family of George Floyd, and our Black family, allies, and members. And we fall in formation behind them in solidarity today. Our hearts are with the families of George, Breonna Taylor, Ahmaud Arbery, and too many beautiful lives taken by an extractive, capitalist system that supports and thrives through the oppression […]
Today, BlackRock voted against the re-election of two directors at ExxonMobil and in favor of a shareholder motion that proposes splitting the role of chief executive and chairman. It also voted for a proposal requesting that Chevron report on how the company’s direct and indirect lobbying align with the Paris Climate Agreement goals. The proposal […]
BlackRock got a ton of applause in January when CEO Larry Fink spoke about the urgency of climate change and said he was going to put sustainability at the center of BlackRock’s investment decisions. Sadly, the financial giant’s actions since then simply do not live up to that rhetoric and fall far short of what […]
In a series of demonstrations after BlackRock’s annual shareholder meeting today, activists in New York City, San Francisco, Brussels, and London staged socially distanced protests to criticize the financial giant’s failure to live up to its rhetoric on climate change. In January, CEO Larry Fink spoke to the urgency of climate change and said BlackRock […]
In January, BlackRock CEO Larry Fink committed to put climate change at the center of the firm’s investment strategy. Even as financial markets reel during the COVID-19 pandemic, BlackRock reinforced that it will continue to hold directors accountable for climate action. This shareholder season is a critical test to see if BlackRock will make good […]
Thanks in part to supporters like you, JPMorgan Chase is bowing to pressure and just announced Lee Raymond, historic climate denier and former CEO of ExxonMobil, will be demoted from his board leadership role! After a month of public pressure, on Friday JPMorgan Chase quietly announced that Raymond will step down as Lead Independent Director […]
As well as being the world’s largest investor in fossil fuels and forest destruction, BlackRock is also a major shareholder in Drax Plc in the UK. Drax operates the world’s largest biomass power station, which burns more imported wood every year than the UK can produce. This emits 13 million tonnes of CO2 every year, […]
Frontline activists New York Communities for Change, Mothers Out Front and CODEPINK: Women For Peace teamed with Rainforest Action Network, Friends of the Earth U.S. and Sierra Club and others and moved BlackRock on climate in the last 18 months – but the $7 TRILLION under its management is still driving the climate crisis. Watch […]
On Tuesday, March 31, TC Energy (formerly Trans Canada) announced its decision to move forward with the controversial Keystone XL tar sands pipeline. This move comes after a decade of protests in North America, a series of legal battles challenging the construction of the controversial pipeline, and political reversals in the US. More importantly, the […]
SAN FRANCISCO, CA, April 3, 2020 — On Tuesday, March 31, TC Energy announced its decision to move forward with the controversial Keystone XL tar sands oil pipeline — despite active legal challenges, a lack of required permits, and without the free, prior and informed consent of Indigenous communities along the proposed route. This decision […]
By Eli Kasargod-Staub, Executive Director of Majority Action (April 1/2020) The upcoming shareholder meeting season is unprecedented in an absolutely unprecedented time. We are in the middle of a global pandemic that threatens millions of lives and livelihoods. The COVID-19 crisis is playing out against the backdrop of the existential threats of escalating climate change. […]
March 27th, 2020: Today, signaling concern over the Federal Reserve handing public money to a private corporation, 30 groups sent a letter to the Fed raising critical questions over the recently announced deal with BlackRock to handle the new multi-billion dollar debt purchasing programs on behalf of the U.S. central bank. The letter cites potential […]
Today, the Federal Reserve announced that it hired BlackRock, the world’s largest asset manager, to shepherd several debt-buying programs on behalf of the U.S. central bank as it works to revive the economy from the impacts of the spread of coronavirus. The programs include purchases of mortgage-backed security purchases, new investment-grade bonds, and already-issued investment-grade […]
Tens of millions of acres of Indigenous Amazonian territories and isolated rainforest are slated to be auctioned off for new oil drilling in the western Amazon, threatening the most biodiverse rainforest in the world and the survival of the indigenous peoples who live in it, and paving the way for catastrophic global climate change. The […]
Commentary by Gaurav Madan on 26 February 2020 A forest in Brazil is set on fire to make way for soy plantations. An oil pipeline leak in South Dakota threatens the drinking water of local communities. A Honduran family seeking a better life is tracked by immigration agents and locked up in a detention center. […]
Last week, the globe’s leading financial newspaper, Financial Times, covered the work of all the people working to stop the financiers of climate chaos. The FT wrote: After years focusing on oil, gas and mining companies, campaigners concerned about global warming are turning their attention to the world of finance. They hope that public pressure […]
New York, NY — Today, BlackRock, the world’s largest asset manager, announced that one of its fastest-growing sustainable funds will stop investing in tar sands, one of the dirtiest fuel sources on the planet. Last month, in response to growing public pressure, BlackRock CEO Larry Fink announced a new set of policies that aim to […]