'Everyone was watching': BlackRock is showing its hand on coal
It has now been almost six months since BlackRock, the world’s largest investment firm, made headlines announcing that it would put climate change at the centre of its investment strategy.
“This is the letter, and stance, that’s put us on pins and needles – everyone is watching to see if BlackRock follows through on these commitments,” wrote the Union of Concerned Scientists, one of the leading climate advocacy groups in the United States on its blog. The votes were praised by climate advocates, though there was disappointment that BlackRock did not make public how it voted on climate-related proposals at other major firms, in particular at the bank JP Morgan Chase.
“Kepco is at the mercy of BlackRock, and the growth of the Australian coal industry is at the mercy of players like Kepco,” says Buckley.
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