BlackRock funds deforestation

From the Amazon to Borneo to the boreal forests of Northern Alberta, BlackRock consistently backs industries that cut and burn billions of trees. Deforestation releases carbon and drives plant and animal species to the brink of extinction.

Rampant development in forest regions also displaces local communities. Industrial activities often undermine the rights of Indigenous peoples, who are not given the opportunity to consent or reject projects on their territories, or who are threatened, coerced, or forced from their traditional lands.

Destroying land. Driving climate chaos.

BlackRock continues to support companies, industries, and projects that threaten our forests and all of us who depend on them.

BlackRock is the world’s largest investor in deforestation-risk commodities, including in the Amazon

Research published in 2019 by APIB and Amazon Watch demonstrated that BlackRock is a top investor in companies complicit in illegal deforestation activities in the Brazilian Amazon.

BlackRock is a top investor in companies complicit in illegal deforestation activities in the Brazilian Amazon.

BlackRock hinted that it will take new steps on deforestation and biodiversity in 2021, but has provided no indication it plans to address Indigenous rights.

BlackRock has poured $8.2 billion into companies

linked to conflicts on Indigenous lands, illegal deforestation, land grabbing, the weakening of environmental protections, and the production and export of conflict commodities.

Case Study

Amazon deforestation

The Amazon is the world's largest rainforest. It’s critical for biodiversity and climate regulation, because it ‘pumps’ water into the air – like a heart – to produce rain and cool the earth. The Amazon is the world's largest carbon sink, storing an estimated 150-200 billion tons of carbon. It also houses at least 10% of the planet’s known biodiversity, and is home to over 400 distinct groups of Indigenous peoples, who have protected this crucial ecosystem for centuries.

Solution

Climate change is a complex problem that demands integrated action.

This is just one of five financial solutions that BlackRock must implement now to help solve this problem.

Adopt a global baseline climate standard for ESG
BlackRock must ensure that its “sustainable” funds are truly sustainable. Fossil fuels, forest-risk commodity companies that have not demonstrably implemented zero-deforestation commitments, and companies that drive catastrophic climate change will never be sustainable and must be removed from all ESG funds.

FAQs

Answers to common questions about how BlackRock and the finance industry fuel climate change and environmental destruction.

We are moving the giant

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