BlackRock Joins Climate Accountability Campaign – The Energy Mix
“BlackRock’s decision to sign on to Climate Action 100+ reinforces that the world’s largest asset manager believes climate change is a growing financial risk to both companies and the global economy,” said Ceres CEO Mindy Lubber, a member of the Climate Action 100+ steering committee. The announcement “sends a powerful signal to companies to reduce emissions, improve corporate governance, and strengthen their disclosure,” she added.
“This announcement from BlackRock will lead to some uncomfortable shuffling in the boardrooms of Big Oil, power utilities, and other carbon-intensive industries,” added Carbon Tracker founder and chair Mark Campanale.
Climate Action 100+ “has the ambition of becoming the biggest, richest, and possibly most benevolent bully the corporate world has ever seen,” Bloomberg reports. “It is cajoling companies to detail exactly how climate change will affect their business, so shareholders can pull money from those that aren’t preparing for the future.