BlackRock joins the Climate Action 100+ group

BlackRock joins the Climate Action 100+ group

The companies which are considered to be giants in the field of investments are now increasingly becoming the prominent targets in the battle that is going on against the climate policies of corporates.

The latest in line is the fund management giant BlackRock which has now joined an investor network by the name of Climate Action 100+ which pushes the companies making fossil fuels to provide new disclosure and sign commitments related to the carbon emissions adding a lot to this group which has been there for 3 years and has been able to win concessions from the companies such as BP, Shell and Equior with is an oil company from Norway.

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The combined assets which are under the management of the group with the addition of BlackRock now stand at $41 trillion as per the organizers.

BlackRock had made its vote against the proposal of shareholders which was brought by the group earlier and has no obligations for voting in their favor in future too.

The experts though feel that if BlackRock will vote the huge worth that they have of shares in the support to the resolutions of climate, it could significantly change the face of corporate governance however there is no confirmation about whether BlackRock indeed is going to do that.

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This addition took place coincidently on a day when the activists had stepped their pressure up on this company and had had been campaigning for the banks and managers of funds to stop their financing of the projects that involve fossil fuels.

BlackRock was turning out to be one of the main targets of this mobilized campaign when it joined this group.

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