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 […]
By Amazon Watch and Friends of the Earth US (February 7, 2020) Just weeks after releasing a new set of policies on climate change and sustainability, BlackRock, the world’s largest asset manager, quietly published this week a new statement on its approach to engagement with agribusiness — the second leading driver of the climate crisis […]
Recent analysis from our partner Urgewald shows Larry Fink’s sustainability strategy ignores the part of the coal industry that causes the highest amount of carbon emissions. Read the release on the Urgewald website or below. On January 14th 2020, BlackRock’s CEO Larry Fink announced that the company would put sustainability at the center of its […]
Today, after more than a year of increasing pressure from climate activists, investors, legislators, and thought leaders, BlackRock CEO Larry Fink, in his highly-anticipated annual letter, announced a sweeping new set of policies which aim to put climate change and sustainability at the center of BlackRock’s business model. BlackRock is the world’s largest asset manager […]
Today, after more than a year of increasing pressure from climate activists, investors, legislators, and thought leaders, BlackRock CEO Larry Fink, in his highly-anticipated annual letter to CEOs and to clients, announced a sweeping new set of policies which aim to put climate change and sustainability at the center of BlackRock’s business model. BlackRock is […]
As we embark on 2020 with the fight against climate change taking center stage, 17 youth climate groups and representatives from Mothers Out Front released two letters (Youth letter here, Mothers letter here) to Larry Fink, BlackRock’s CEO. BlackRock is the world’s largest asset manager and the world’s largest investor in coal, oil, gas, and […]
As we embark on 2020 with the fight against climate change taking center stage, 17 youth climate groups and representatives from Mothers Out Front released two letters (Youth letter here, Mothers letter here) to Larry Fink, BlackRock’s CEO. BlackRock is the world’s largest asset manager and the world’s largest investor in coal, oil, gas, and […]
Today, BlackRock announced that it will be joining Climate Action 100+. In response to the decision, members of the BlackRock’s Big Problem network issued the following statements: Eli Kasargod-Staub, Majority Action Executive Director: “BlackRock is finally recognizing that its go-it-alone approach has been counterproductive. BlackRock’s voting last year significantly undermined Climate Action 100+ efforts, and […]
New data reveals that large institutional investors in the US are stalling progress to tackle the social and economic risks of climate change, despite committing publicly to climate action. This is compared to investors in Europe who are more prepared to hold the worst polluters accountable. Analysis by ShareAction, the responsible investment campaign group, reveals […]
Oct. 29, 2019 – Protests against BlackRock escalated this morning as the company continues to come under pressure for being the world’s top investor in fossil fuels and companies driving deforestation, the leading causes of the climate crisis. 10 people with New York Communities for Change (NYCC) and Sunrise Movement, as well as activists associated […]
During a busy Climate Week in New York City, a delegation of Indigenous peoples delivered 260,000 petition signatures to BlackRock demanding they stop funding Amazon deforestation and climate destruction. None other than BlackRock’s CEO Larry Fink had to make his way through the protesters to get to work this morning. Our message: We’ll keep coming […]
In 2019, BlackRock and Vanguard, the world’s largest asset managers used their shareholder power to undermine global investor efforts that would have pushed large fossil fuel and utility companies to take concrete action on climate change, according to a new report by Majority Action. Key energy and utility companies in the U.S. lag far behind […]
Today, in response to the findings of a new report by Majority Action, people with New York Communities for Change (NYCC), Mothers Out Front (MOF), Sunrise Movement NYC, Sierra Club, 350Brooklyn, Extinction Rebelion-MA, and Mass Divest gathered outside BlackRock offices in New York City and Boston. The report, which assesses major asset managers’ 2019 shareholder […]
BlackRock’s Big Deforestation Problem, released by Friends of the Earth U.S., Amazon Watch, and Profundo, a Dutch financial research firm, tracked financial data between 2014 and 2018 to show that BlackRock is among the top three shareholders in 25 of the world’s largest publicly listed “deforestation-risk” companies – companies active in producing and trading soy, […]
There’s a new detailed report out today from analysts at the Institute for Energy Economics and Financial Analysis (IEEFA) and it’s a doozy. The report shows that BlackRock continues to ignore the serious financial risks of putting money into fossil fuel-dependent companies. Why this is important: Given that BlackRock is the world’s largest asset manager, […]
Washington, DC — This afternoon, the Investor Protection, Entrepreneurship and Capital Markets Subcommittee of the House Financial Services Committee will hold a hearing entitled “Building a Sustainable and Competitive Economy: An Examination of Proposals to Improve Environmental, Social and Governance Disclosures.” The hearing will address the need for publicly traded companies to report their business’ […]
New York City – Today, BlackRock CEO Larry Fink faced criticism from community leaders, researchers, and legal experts at the company’s annual general meeting (AGM). During the meeting speakers from the Amazon and the U.S. called out Fink for the fact that his rhetoric on climate change does not match BlackRock’s actions, while others from […]
BlackRock is the largest asset manager in the world, with about $6.5 trillion in assets under management as of the end of March 2019. As of 2016, BlackRock owned more than 5 percent of over 2,600 companies and over 10 percent of 375 companies. BlackRock talks a good game. CEO Larry Fink claims that he […]