BlackRock’s climate commitments – one year on
On January 14th 2020 BlackRock’s CEO Larry Fink made a series of declarations on climate change and its potential impact on our global economy and the finance sector. Fink’s 2020 letters to CEOs and BlackRock’s own shareholders were filled with all the right language alongside a few exciting, if initial, steps that BlackRock would take to address the climate crisis.
One year on, we look at what BlackRock has actually done to deal with its climate problem.
The bottom line is that BlackRock has taken some small steps in the right direction, but has yet to actually address its own role in the climate crisis. Visionary financial leadership on climate change means taking responsibility for the impacts of your investments, and taking action that results in lowering global emissions.
So far, BlackRock’s actions are far from visionary.
There are several bold solutions BlackRock can implement in order to account for its role in the current crisis and become a true climate leader in the finance world, including offering fossil fuel and deforestation free funds as the the default option and adopting a policy that recognizes and respects the rights of Indigenous peoples.
Read more of our One Year On analysis in our full post. |
