An environmental campaign has criticised BlackRock for allegedly being the "largest owner of fossil fuel companies and single largest contributor to climate destruction", and singled out CEO Larry Fink as failing to manage the business in line with his own expectations of stocks the firm invests in.
'BlackRock's Big Problem', which is a collaboration between leading climate and human rights organisations, including Amazon Watch, Friends of the Earth, and the Sierra Club, has demanded BlackRock, which has $6.3trn in AUM, stops "investing in climate destruction", via its investment in fossil fuels. Campaigners are taking part in a demonstration in New York today (26 September) for Climate Week where they will gather outside the Bloomberg Global Business Forum and argue BlackRock is one of the largest investors in oil and gas companies, the largest investor in new coal plant developmen...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
