BlackRock Joins Climate Action 100+, an Investor Group to Discipline Carbon Emission

On Thursday, BlackRock Inc.’s top asset manager announced that the company has joined the investor group, Climate Action 100+ to seek help for curbing carbon emissions.

 

A spokesperson from New York-based BlackRock sent an email stating the rising risk of climate change will jeopardize investment portfolios rapidly. To solve this hurdle and to come up with a solution on climate change, the company will engage in discussions with corporate executives.

 

Climate Action 100+ started operating since 2017 and has included some investors and non-profit organizations such as California Public Employees’ Retirement System, Manulife Financial Corp (MFC.TO), and HSBC Holdings PLC (HSBA.L).

 

BlackRock is among the most influential companies with around $7 trillion under management that can voice about how huge corporations can act on climate issues such as emissions from greenhouse gases.

 

Farrell Denby, spokesman of BlackRock, has not provided with any further details and has not made any executive available for comments. It has also not disclosed its specific talks with corporate executives or specified details regarding resolutions about emissions.

 

Numerous activists have welcomed BlackRock’s approach but are awaiting the specific details about the actions that asset manager is going to take.

 

Mark Campanale, chairman of London-based climate researcher Carbon Tracker said through email that BlackRock should use its influence to voice for many that are involved in Climate Action 100+ and have made no investments.

 

Mindy Lubber, steering committee member of Climate Action 100+ said in a statement on the company’s website that joining hands with BlackRock will be beneficial and have impactful effects in resolving the global climate crisis.

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