"Our in-depth analysis of BlackRock's climate announcement", 14 January, 2020

BlackRock... announced a sweeping new set of policies which aim to put climate change and sustainability at the center of BlackRock’s business model... Massive capital shifts away from fossil fuels and deforestation-risk commodities are necessary to mitigate the worst of the climate crisis and set the world on a path toward sustainability. As the world’s largest asset manager, BlackRock must play a leading role in... ‘fundamentally reshaping finance to deal with climate change.’...Today’s announcement is not enough. BlackRock must implement additional shifts of capital out of fossil fuels... acknowledge and take action on the fact that its portfolios... are actively contributing to climate change and thus contribute [to] the risk that climate change poses to the global financial system. It must clearly define what it means by “sustainable” and improve its criteria around ESG to be Paris-compliant... [I]t must engage with companies in a concrete, transparent, time-bound way with consequences for inaction like voting against board members.