BlackRock to Divest from Thermal Coal

Divestment gathers momentum in the finance sector

BlackRock, the world's largest financial asset management firm ($6.9tn U.S. in funds overall; $87.3bn fossil fuel portfolio), has announced plans to divest from thermal coal and to put sustainability at the heart of its investment strategy.


For further details see: https://www.theguardian.com/business/2020/jan/14/blackrock-says-climate-crisis-will-now-guide-its-investments

Comments

Post a Comment

Popular posts from this blog

MacGreenInvest: A Brief History

Image
MacGreenInvest: A Brief History   MacGreenInvest has its origins in a student-led group called Fossil-free McMaster, which began in 2013. In the autumn of 2015 student submitted a petition signed by 897 people, and Jim Quinn and Atif Kubursi penned a letter to the administration of McMaster University including over 100 faculty signatures.* The letter requested divestment of endowment funds from the top 100 coal and top 100 oil and gas investments ( https://gofossilfree.org/top-200 ), making the argument that:   There already exist 5X proven fossil fuel reserves needed to exceed 2C degrees increase There is a moral case for an educational institution not to invest in destruction of the climate  The removal of social license has symbolic importance (cf. divestment over apartheid) Fossil fuel investments will tank in value with the conversion to green energy use After meeting with McMaster's then-President, Patrick Deane, it was decided that Dr. Deane wou
Read more

The Financial Case for Fossil Fuel Divestment

 The financial case for fossil fuel divestment has been made for at least the last 10 years, but now even powerful investment organizations such as Blackrock and Meketa have caught on...    https://www.newyorker.com/news/daily-comment/the-powerful-new-financial-argument-for-fossil-fuel-divestment https://ieefa.org/major-investment-advisors-blackrock-and-meketa-provide-a-fiduciary-path-through-the-energy-transition/
Read more