BLACKROCK'S GOT A BIG PROBLEM. IT NEEDS TO STOP POURING MONEY INTO THE DESTRUCTION OF OUR CLIMATE AND COMMUNITIES. JOIN US.
WE NEED BLACKROCK TO:
Divest from fossil fuel companies that won't change their practices.
Prioritize fossil fuel and deforestation free funds.
Rigorously push companies it owns to align their goals with the Paris climate agreement.
Escalate pressure on industry laggards through transparent shareholder engagement.
Every year brings more record breaking heat waves, fires, hurricanes, floods, and climate refugees.
THE CLIMATE CRISIS IS ACCELERATING, WORSE AND FASTER THAN EXPECTED.
Industry's insatiable appetite for more dangerous megaprojects will destroy communities and the wild spaces we have left:
tar sands mining
FOSSIL FUEL COMPANIES WON'T STOP DRILLING & DIGGING, BUT THEY AREN'T ACTING ALONE.
Since the Paris Climate Agreement was signed global banks have pumped $1.9 Trillion of new money into fossil fuel development. The business model of the fossil fuel industry is on track to create a world with 4 degree temperature rise.
That's the uninhabitable Earth. We won't let that happen.
Unlike other asset managers, it refuses to divest from companies that are making the climate crisis worse.
It votes against shareholder demands for
climate action and transparency.
It offers no transparency into its shareholder engagement practices.
YET BLACKROCK'S BUSINESS PRACTICES ARE MAKING THE CLIMATE WORSE:
Worse, BlackRock pretends its ownership doesn’t count, that it has no responsibility for the impacts of the companies it invests in.
TO SAVE OUR CLIMATE THIS NEEDS TO CHANGE.
BLACKROCK NEEDS TO WALK ITS TALK:
BlackRock's CEO Larry Fink wants to be a model corporate citizen.
He's a Democrat, a philanthropist, and sits on the board of a major conservation organization.
The company and its employees give generously to humanitarian causes - including relief from climate related disasters!
Fink’s recent annual investor letter rocked the financial world by saying:
BlackRock CEO Larry Fink
“Society is demanding that companies, both public and private, serve a social purpose. Every company must not only deliver financial performance, but also show how it makes a positive contribution to society.”
It is one of the world's largest investors in
oil and gas companies.
It is the largest investor in rainforest destruction, including in the Amazon. Deforestation is the second biggest driver of climate change after fossil fuels.
AS THE WORLD'S BIGGEST INVESTOR, BLACKROCK IS ALSO THE WORLD'S BIGGEST BACKER OF FOSSIL FUEL COMPANIES.
BLACKROCK POURS MORE MONEY INTO COMPANIES DESTROYING OUR CLIMATE THAN ANY OTHER ENTITY.
BlackRock is the largest investor in both new coal plant development and existing coal reserves worldwide. Coal is the biggest cause of climate pollution.
SINCE THE FINANCIAL CRISIS, OBSCURE INVESTORS KNOWN AS "ASSET MANAGERS" HAVE QUIETLY BECOME THE BIGGEST OWNERS OF THE GLOBAL ECONOMY.
These giant investors have massive power, pushing companies to endlessly grow, no matter the consequences.
ASSET MANAGERS CONTROL $90 TRILLION USD OF CAPITAL
The largest, BlackRock, has over $6.5T USD under
management. That’s roughly equal to the world’s top 20 pension funds combined.