BlackRock has joined Climate Action 100+, the planet’s biggest investor group focused on pushing companies to reduce their greenhouse-gas emissions. It’s one way to address the investment firm’s uneven record on climate change, writes AntonyMCurrie.
BlackRock on Jan. 9 joined Climate Action 100+, a group of more than 370 institutional investors that wants 161 of the largest greenhouse-gas emitters to reduce their impact on the environment.
The investment firm’s $6.8 trillion of assets under management takes the total funds held by companies affiliated with Climate Action 100+ to $41 trillion. Since being founded in 2017, Climate Action 100+ has targeted companies including Glencore, Royal Dutch Shell, Maersk and Nestlé, which have all since put out targets related to emissions reduction.
In an emailed statement, BlackRock said its decision was a “natural progression of the work our Investment Stewardship team has done to date. We believe the evidence of the impact of climate risk on investment portfolios is building rapidly and we are accelerating our engagement with companies on this critical issue.”
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