Despite vocal commitments to sustainability, BlackRock’s more than $7 trillion assets under management include the world’s largest investments in coal, oil, and gas – industries that accelerate global pollution and climate chaos.
BlackRock says it has fully exited companies that generate more than 25% of their revenue from thermal coal production in all its active funds. Now BlackRock needs to create absolute no-go sectors:
BlackRock has the power to immediately reduce its capital exposure to high-emitting companies and the world’s most notorious polluters.
BlackRock is the world’s largest investor in fossil fuels. With a $7 trillion-dollar portfolio, it invests billions in coal, oil, and gas, including tar sands and Arctic oil. Yet, the truth is indisputable: to maintain a habitable planet we must cut global emissions in half within this decade. That means we can’t afford to keep pumping money into fossil fuels.
But Larry Fink and the financial industry must recognize that small steps and talk are not enough. Our future depends on bold, decisive action. Asset managers have the power to make immediate changes – and the responsibility to implement these feasible solutions.