Skip to main content

Top asset manager BlackRock Inc said on Thursday it has joined the Climate Action 100+ investor group seeking emission curbs.

A spokesman for New York-based BlackRock said via e-mail that “evidence of the impact of climate risk on investment portfolios is building rapidly” and reiterated past comments the company will accelerate its talks with corporate executives on climate risk.

Climate Action 100+ was begun in 2017 and includes nonprofit organizations and investors including units of HSBC Holdings PLC, Manulife Financial Corp and the California Public Employees’ Retirement System.

Story continues below advertisement

With some $7 trillion under management BlackRock has an influential voice on how large corporations act on climate matters such as greenhouse gas emissions.

However to date BlackRock has taken few steps sought by critics such as backing shareholder resolutions calling for more emissions disclosures or giving details of its specific talks with corporate executives.

The BlackRock spokesman, Farrell Denby, did not provide more details or make executives available for comment

Several activists said they welcomed BlackRock’s step but are waiting to see what specific actions the asset manager might take.

“BlackRock needs to lend its voice to the many involved in CA100+ calling for no new investment in expanding fossil fuel production,” said Mark Campanale, chairman of London-based climate researcher Carbon Tracker, via e-mail.

In a statement on its website Climate Action 100+ steering committee member Mindy Lubber said that “With BlackRock’s commitment to the goals of the initiative, we will assuredly see more impactful results in tackling the global climate crisis.”

Report an error
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

Cannabis pro newsletter
To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies