Friends of the Earth International, 31 October 2018
NEW YORK– In recognition for his outstanding contribution to climate change, the activist group Friends of the Earth U.S. today presented BlackRock CEO Larry Fink with a “climate fraud” award. BlackRock holds more stock in companies contributing to climate change than any other company in the world.
“BlackRock is the world’s largest investor in climate destruction,” said Lukas Ross, senior policy analyst at Friends of the Earth U.S. “As the warnings from climate scientists become ever more dire, Fink and his investments are on the wrong side of history.” Fink has previously called for business to fulfill a “social purpose” and just last week touted the future of sustainable investment. Nevertheless, BlackRock remains the world’s largest single investor in fossil fuels and deforestation, with holdings in companies such as BP, Enbridge, Golden Agri-Resources and Sinar Mas.