Tell BlackRock’s CEO: Good steps on climate, more is needed.

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As the world’s biggest owner of fossil fuel companies, BlackRock is the biggest driver of climate destruction on the planet today. It is the number one investor in new coal plant production, one of the largest investors in oil and gas, and the top US investor in companies destroying the world’s rainforests. BlackRock is also a top shareholder of many of the big banks that fund the development of new dirty fuels and pipelines.

Activists and BlackRock clients have been calling on the company to address its big climate problem -- and BlackRock finally showed it’s been listening. CEO Larry Fink is committing to real climate action by announcing a sweeping new set of policies which aim to put climate change and sustainability at the center of BlackRock’s business model. 

There is a lot to like in BlackRock’s new policy, but there are still a lot of lingering questions and plenty of room for improvement. BlackRock must start divesting from ALL fossil fuels, be more transparent about preventing greenwashing in its climate-friendly funds, and lay out real consequences for companies that refuse to take climate action. [1]

It’s time for BlackRock to deliver on its promises and strengthen its plan for action. Send a message to CEO Larry Fink to thank him and urge BlackRock to do what’s needed to fight the climate crisis!

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Sources:

[1] BlackRock’s Big Problem, “Our in-depth analysis of BlackRock’s climate announcement,” January 14, 2020.