Larry Fink’s latest letter to CEOs is just another rehashing of the same vague rhetoric, without any meaningful new commitment to actually help lead the necessary transition to a climate-safe future. “There’s not much to see here other than more hot air from a would-be climate leader.
Fink apparently wants to be above the political fray, but by playing nice with those profiting off of the causes of climate change, he’s making the political choice to reject climate science, which makes absolutely clear that a rapid transition from all fossil fuels is unquestionably urgent and necessary.”īen Cushing, Fossil-Free Finance Campaign Manager with the Sierra Club: “The question isn’t who’s ‘woke’ or not, it’s who is leading our economy and our planet on a path either to destruction or to a livable future. Moira Birss, Climate & Finance Director with Amazon Watch: If he will not stand up to climate skeptics, what will happen when some of the heavy-emitting companies that BlackRock owns are, to use his words, actually dodos instead of phoenixes? Will Larry have the gumption to get up and tell uncomfortable truths to these companies? This letter does not invoke confidence that Larry is the leader we need him to be, and we hope that the client letter will have much more detail and much more specific ambitions about what BlackRock will do.” In his letter, Larry Fink is trying to be everything to everyone and that is not true leadership. “In the year 2022 few things rise above the political fray, but climate science has to be one of them. In response, members of the BlackRock’s Big Problem campaign issued the following statements:Ĭasey Harrell, Senior Strategist with The Sunrise Project: This year’s letter, however, does not contain anything of substance that would concretely decarbonize the asset manager’s portfolio or reduce its massive exposure to climate destructive companies. Past letters have served to introduce coal exclusion policies or frameworks intended to attempt to lower BlackRock’s emissions. Like in recent years, the letter includes Fink’s discussion of climate issues. New York, Jan 18th, 2022 - BlackRock CEO and Chairman Larry Fink has released his annual letter to CEOs, without the letter to clients that has been traditionally paired with it in past years.
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