"Our engagements were part of an ongoing, multi-year effort to further our understanding of, and encourage companies to better . BlackRock believes that sustainability risk, particularly climate risk, is investment risk. To make the urgent transformations needed to end global deforestation and reign in the climate crisis, BlackRock needs to change its ways. Those 93 firms provide $2.6 trillion in finance . The Planet Tracker report added the company was one of three making up 70% of the ETF issuer market, and therefore a key arbiter of the industry's contribution to deforestation. The fund giant's plans to dump coal stocks would be one of the largest divestments ever. The Problem With Putting a BlackRock Alum in Charge of Greening the Economy Brian Deese, expected to head the Biden administration's National Economic Council, is a longtime adherent of a . BlackRock CEO Larry Fink on Monday pushed back against accusations the asset manager was using its heft and influence to support a politically correct agenda. Cleared land in Kalimantan Tengah, Indonesia. See how mutual funds and ETFs are rated on issues ranging from fossil fuels, to deforestation, gender equality, guns, prisons, weapons, and tobacco: Fossil Free Funds. Deforestation. BlackRock has been vocal on its intentions to act on climate change, but until now, its action on deforestation has been minimal, despite deforestation making up 10% of greenhouse gas emissions globall y. Top investors BlackRock, Vanguard, State Street, PNB, EPF, GPIF, and KWAP all amongst lowest-scoring The world's 50 largest banks and investors are driving deforestation through weak policies and major investments… Ninety-three of the 150 financial institutions most responsible for bankrolling deforestation—including BlackRock, Vanguard, and State Street, the world's three biggest asset managers—"do not have a deforestation policy covering their investments and lending to" the 350 corporations analyzed. BlackRock's recent statement that it is engaging with palm oil companies to better understand the industry's challenges related to biodiversity and deforestation marked the first public acknowledgement from the firm of ESG risks associated with this sector. BlackRock, the world's largest investment firm, is among the world's top investors in the agribusiness companies responsible for destroying our tropical rainforests. However, BlackRock has been accused of "climate hypocrisy" since, in September, a big data tool found that the firm's ESG funds hold companies with a deforestation risk that stretches over 500 hectares of land, more than any other fund. Are BlackRock and other asset managers enabling deforestation? BlackRock's list of expectations of executives provides a comprehensive starting point. "BlackRock should adopt a definitive no-deforestation and human rights policy with clear accountability mechanisms that result in concrete improvements for communities, ecosystems, and the . BlackRock said it was "well aware" of the concerns and was "continuously engaged" with companies over . With over $6 trillion in capital under management (as of March 2020), BlackRock is the world's leading investor in fossil fuels, providing the companies most responsible for the climate crisis continued investment capital to grow. The Wall Street behemoth remains one of the leading investors in fossil fuels and companies driving deforestation: Analysis conducted by Universal Owner shows that only 10 percent of BlackRock's assets under management are responsible for 85 percent of its portfolio emissions. As we wrote in a letter to clients1 in January 2020, our investment stewardship team is intensifying its focus and engagement with companies on sustainability-related risks. "By not defining what it means by net-zero, BlackRock leaves the door wide open for investments that continue to drive the overlapping crises of deforestation, species extinction and habitat loss, and egregious violations of Indigenous Peoples' rights. We describe our approach and provide detail in The report accuses the "big three" asset managers — BlackRock, Vanguard and State Street — of enabling companies in their investment portfolios to skirt promises they made to prevent their supply chains . Alfred Brownell, a Liberian human rights lawyer and recipient of the 2019 Goldman Environmental Prize for Africa, and a group of environmental activists prot. The data reveal that BlackRock's holdings in six sectors - soy, beef, palm oil . The world's largest investment companies like BlackRock, State Street, and Vanguard prop up the Big Ag companies and consumer goods brands destroying our forests. It comes as deforestation - and associated greenhouse gas emissions and climate impacts - are mounting in many regions of the world. BlackRock holds $337 million worth of shares on behalf of its clients in Bunge Limited, making it the third largest shareholder of the agricultural company, which is based in St. Louis. Despite carrying a sustainable label, Blackrock's ESG funds hold companies with a deforestation risk that stretches over 500 hectares, more than any other fund, an innovative tool has found. Deforestation. According to Friends of the Earth, BlackRock - the world's largest asset manager - has had 16 previous opportunities to vote for resolutions to halt deforestation since 2012. While the initial announcement was met with some criticism by environmental activists, BlackRock's recent . More from Invest Your Values. The environmental advocacy group Friends of the Earth has blasted BlackRock and other asset managers in a new report that says they aren't doing enough to curb global deforestation. Global asset managers taking 'no action' to stop funding deforestation Big names include BlackRock and Vanguard Kathleen Gallagher 13 January 2022 • 2 min read Image: Forest500 report shows. Birss said that "what BlackRock needs to confront next is the fact that the decarbonization it recognizes is needed can't happen without clear guardrails for the specific activities—including the expansion of oil and gas production and of deforestation-risk commodities—that will prevent us from achieving the Paris goal of limiting global warming to 1.5°C." . deforestation risk management, oceans and freshwater protection to be potential drivers of long-term value. BlackRock has $250 billion invested in consumer goods companies that committed to end deforestation in their supply chains by 2020 — and have failed. If BlackRock is to successfully drive the energy transition in line with . Moira Birss, the finance campaign director of Amazon Watch, said that, while the vast majority of BlackRock's deforestation-linked commodity holdings are made through index funds — passively managed funds that track the global marketplace — BlackRock could use its influence as the world's largest investor to press those companies to . BlackRock, Inc. is an American multinational investment management corporation based in New York City.Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager, with US$10 trillion in assets under management as of January 2022. According to report by Friends of the Earth US (FOE), Amazon Watch and Dutch research firm Profundo, BlackRock is the world's largest investor in deforestation with holdings in six sectors - soy, beef, palm oil, rubber, timber and pulp/paper, all of which have been accused for encouraging the devastation of the Amazon in Brazil. Full analysis of BlackRock's newly released approaches to "natural capital," human rights, and 2021 engagement; Doubling Down on Deforestation (Friends of the Earth, 2020) analyzes BlackRock's publicly listed investments to identify the supply chain links between the companies in which BlackRock is invested and deforestation and land conflict. Photo: Brooke Anderson It declined every one of them. Michelle Edkins is the managing director in BlackRock's Investment Stewardship team, which seeks to promote governance best practices that help create long-term shareholder value for clients. A month and a half ago, BlackRock, the world's largest investment firm, made waves for choosing to divest from some coal investments, setting up funds that avoided fossil fuels, and saying it would only support corporate board members who factored the climate crisis into its decisions. Tell BlackRock, State Street and Vanguard to defund deforestation! Investment giant BlackRock, who are responsible for more than US$9 trillion in investments, is the world's biggest investor in rainforest destruction in the Amazon and elsewhere, according to environmental groups. It is also one of the biggest investorsin oil companies operating in the Amazon despite staunch opposition from local Indigenous peoples. Ceres talked with Michelle about BlackRock's engagement strategy on climate change and deforestation and why more investors should be boosting attention to these systemic financial risks. BlackRock, the world's largest investment firm, is among the world's top investors in the agribusiness companies responsible for destroying our tropical rainforests. Accordingly, sustainability is a key component of our investment approach. BlackRock has yet to produce concrete policy addressing land rights, deforestation, and human rights abuses in its portfolios Today, over 80 renowned Indigenous and frontline activists from around the world issued a public letter criticizing BlackRock's role in violating the land rights and human rights of Indigenous peoples and other traditional communities. BlackRock on Thursday warned companies that rely on nature or have an impact on natural habitats to publish a "no deforestation" policy and their strategy on biodiversity or face pushback from the . Blackrock CEO Larry Fink has written a public letter praising "accountable and transparent capitalism," but his company is still investing in fossil fuels and deforestation. BlackRock Every year, the world loses an area of tropical rainforest the size of the United Kingdom. Blackrock and Vanguard Asset Management equity investments can be linked to 40,000 hectares of lost forest. BlackRock also has 213 million reais ($39.5 million) invested in Marfrig and 131 million ($24.3 million) in Minerva, who rank fifth and 10 th, respectively, on Imazon's ranking of deforestation . BlackRock says it will vote against company directors where it doesn't see enough progress on supply chains and deforestation.Michelle Edkins, Global Head of BlackRock's Investment Stewardship team, made the remarks on a webinar organised by sustainability advocacy group Ceres to mark the publication of a new investor guide on deforestation and climate change.Edkins was asked by moderator . Deforestation, and climate risk more broadly, are increasingly recognized by financial institutions as having direct materiality. We talked with Michelle about BlackRock's engagement strategy on climate change and deforestation and why more investors should be . Heinz, Jimmy Choo and BlackRock are among hundreds of household names doing "little or nothing" to end deforestation, a major new report has found. Without action, activists say, Fink's words are just hot air. In February, the asset manager released a report on its engagement with agricultural firms and highlighted the climate and social risks and opportunities the industry faces over the short and long . In guidelines . Deforestation and Water More than half of global economic output is dependent on nature, according to the World Economic Forum. BlackRock's Big Deforestation Problem (Friends of the Earth, Amazon Watch, and Profundo, 2019) details BlackRock's investments in companies driving deforestation, land grabs, and human rights abuses. BlackRock, Vanguard and State Street - the world's three biggest asset managers - have not made public any policies designed to avoid deforestation, according to findings published this morning by . BlackRock said it will ask companies about how they preserve. The signatories, including . BlackRock has been vocal on its intentions to act on climate change, but until now, its action on deforestation has been minimal, despite deforestation making up 10% of greenhouse gas emissions globally. Last winter, the world watched as illegal deforestation caused 2.3 million acres of forest and land across Indonesia to burn for weeks. Deforestation is the second-largest driver of climate change, after fossil fuels. blackrock's big deforestation problem, released by friends of the earth u.s., amazon watch, and profundo, a dutch financial research firm, tracked financial data between 2014 and 2018 to show that blackrock is among the top three shareholders in 25 of the world's largest publicly listed "deforestation-risk" companies - companies active in …

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