BlackRock net zero objective at odds with tar sands investments

Reclaim Finance asserts that BlackRock's goal to align its portfolio with a net zero economy is contradicted by its $75 billion in holdings in 30 major tar sands production companies and $3.7 billion in key pipeline companies. The organization highlights that tar sands emissions are 3.2 to 4.5 times higher than conventional North American oil and calls for BlackRock to stop investing in companies deriving more than 5% of revenue or reserves from tar sands, and to exit those expanding the sector.

• BlackRock maintains significant financial holdings in the tar sands sector, including $75 billion in 30 major production companies planning new reserve development and $3.7 billion in three key pipeline companies transporting oil from Alberta.
• The production of tar sands (oil sands) is identified as incompatible with a 1.5°C warming limit due to climate, environmental, and Indigenous impacts, with emissions 3.2 to 4.5 times higher than conventional North American oil.
• Reclaim Finance demands that BlackRock's active portfolio stop investing in companies that generate more than 5% of revenues from tar sands or hold more than 5% of oil and gas reserves in tar sands, and exit companies expanding the sector via new reserves or infrastructure.
• For its passive portfolio, Reclaim Finance demands that BlackRock commit to not launching new products containing companies exceeding the 5% tar sands threshold or those expanding the sector, and that climate-friendly funds become the default option for all clients.

APA

admin (2021). BlackRock net zero objective at odds with tar sands investments. Reclaim Finance. https://reclaimfinance.org/site/en/2021/03/18/blackrock-net-zero-objective-at-odds-with-tar-sands-investments/

Chicago

admin. BlackRock net zero objective at odds with tar sands investments. Reclaim Finance, 2021. https://reclaimfinance.org/site/en/2021/03/18/blackrock-net-zero-objective-at-odds-with-tar-sands-investments/.

Wikipedia

{{cite press release |last1=admin |title=BlackRock net zero objective at odds with tar sands investments |publisher=Reclaim Finance |date=18 March 2021 |url=https://reclaimfinance.org/site/en/2021/03/18/blackrock-net-zero-objective-at-odds-with-tar-sands-investments/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2021blackrock, author = {admin}, title = {{BlackRock net zero objective at odds with tar sands investments}}, publisher = {Reclaim Finance}, year = {2021}, month = mar, url = {https://reclaimfinance.org/site/en/2021/03/18/blackrock-net-zero-objective-at-odds-with-tar-sands-investments/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }