Studie von Reclaim Finance und urgewald, 14.1.2021 (engl. Originalfassung)
One year ago, on January 14th, Larry Fink announced BlackRock was finally on its way to investing sustainably. The largest investor in the world, with $7.8tn in assets under management, also published a coal policy, aiming at “exiting thermal coal producers” but only excluding mining companies with more than 25% of revenues from coal production. To this day, BlackRock still has no policy regarding its investments in other fossil fuels. Reclaim Finance has conducted research on BlackRock’s holdings (as of October 2020) to verify the real-world consequences of these announcements and assess the investor’s exposure to the coal sector.
Unfortunately, results show that even with this new policy, BlackRock remains a massive investor in coal companies and even in companies planning new coal projects,despite research showing that such projects are incompatible with any serious climate commitment. BlackRock has a major problem with its passively managed investments, which make it widely exposed to coal assets likely to become stranded. They also massively expose it to other fossil fuels, as even the most polluting companies are not excluded from BlackRock’s investments.
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