(8 September 2022 – United States) BlackRock defended its policies relating to climate risk and expressed alarm over the politicisation of sustainable investment by United States (US) law makers.
Nineteen Republican attorney generals (AGs) signed a litter to Blackrock CEO Laurence Fink accusing BlackRock of using “the hard-earned money of our states' citizens to circumvent the best possible return on investment” in its position on energy investments. Blackrock was at pains to highlight that much of the world has already made commitments to net-zero.
“Governments representing over 90 percent of global GDP have committed to move to net-zero in the coming decades. We believe investors and companies that take a forward-looking position with respect to climate risk and its implications for the energy transition will generate better long-term financial outcomes. These opportunities cut across the political spectrum” commented Blackrock Senior Managing Director, Head of External Affairs, Dalia Blass.