With $6.5 trillion of assets under management, BlackRock was labeled the “world’s largest investor in deforestation” in a report by Friends of the Earth US, Amazon Watch, and Dutch research firm Profundo.
BlackRock is a key financier of the agribusiness giants most implicated in deforestation in the Brazilian Amazon. They are also the world’s largest investment firm in fossil fuel industries, putting them at the top of the black list of firms responsible for climate change.
The data reveal that BlackRock’s holdings in six sectors – soy, beef, palm oil, rubber, timber and pulp/paper – have increased by more than $500m in the last five years. Of the 167 deforestation-risk companies identified by the researchers, BlackRock held shares in 61 of them – valued at $1.5bn by the end of last year.
In San Francisco, the Brasil Solidarity Network and Amazonwatch led a large march from the Brazilian consulate to the offices of investor Blackrock. They painted a giant mural that read “Blackrock Kills” and ended the action by putting blood red hand prints on the Blackrock building.
In Chicago, Extinction Rebellion Chicago (with a little help from Rising Tide Chicago) led a 200 person action that went into
the investor’s lobby and disrupted until forced outside. Outside 25 people participated in a die-in.
In London, activists took action at the Blackrock’s London offices.
In New York, activist held a vigil for the Amazon outside Blackrocks’s world headquarters. At the Brazilian embassy there were three street shutdowns with powerful drumming.
Hundreds of actions are happening all over the world. See more here.