Continued investments in fossil fuel and climate-harming companies undermine the rights of Indigenous peoples and local communities worldwide.
In 2020, BlackRock joined the UN Global Compact and committed to support and respect internationally recognized human rights. Despite this public pledge, BlackRock hasn’t changed its policies and continues to invest in companies that directly threaten human and Indigenous rights.
The most destructive companies BlackRock funds are responsible for:
Enbridge Inc. has a track record of oil spills and Indigenous rights violations. The company has been pushing to replace its existing Line 3 pipeline with a larger pipe that would carry 760,000 barrels of tar sands oil per day from Edmonton, Alberta, to Superior, Wisconsin. In November 2020, Enbridge secured final permits for Line 3 from Minnesota and the federal government and began construction in December, despite COVID risks, legal challenges, and sustained Indigenous-led opposition to the project. When construction started, BlackRock had $336 million invested in Enbridge.