'Climate pariah': Campaigners urge BlackRock to strengthen coal exclusion policy after counting $85bn of coal investments

Coal ban applies to 17% of global coal value chain

NGOs have accused asset management giant BlackRock of greenwashing after publishing findings that suggest the company has $85bn worth of assets invested in coal companies one year on from the firm's high-profile pledge to exit investments in thermal coal.

A report published this morning by Reclaim Finance and Urgewald argues the world's largest asset manager continues to play a leading role in supporting the coal sector, despite promises made this time last year by chief executive Larry Fink to put sustainability at the heart of all the investment giant's decisions and to exit investments that "present a high-sustainability risk", such as thermal coal producers. HSBC climate credentials in firing line as asset managers file shareholder resolution The NGOs have urged BlackRock to fill "gaping holes" in the coal divestment policy introdu...