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Dear John,

I have some very exciting news to share.

BlackRock, a long-standing Ceres Investor Network Member and the world’s largest asset manager (with 6.8 trillion USD in assets under management), has just joined Climate Action 100+. This unprecedented global investor engagement initiative, led by Ceres and other investor groups, works to ensure the world’s largest corporate greenhouse gas emitters take the critical steps necessary to address the global climate crisis.

All investor signatories to Climate Action 100+ commit to engage with large corporate greenhouse gas emitters and demand that they:

Take action to reduce greenhouse gas emissions across the value chain in line with the overarching goals of the Paris Agreement;

Implement a strong governance framework which clearly articulates the board’s accountability and oversight of climate change risks and opportunities; and

Provide enhanced corporate disclosure in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

BlackRock’s decision to sign on to Climate Action 100+ reinforces that mainstream investors believe that climate change is a financial risk to both companies and the global economy. Having a large asset owner like BlackRock will add additional engagement capacity for companies in under-served regions including Asia, Latin America and South Africa and will put more pressure on other large asset managers to join the effort. It also sends an important signal to companies around the world that climate risk is a material financial risk that must be addressed to meet investor expectations.

Climate Action 100+ has already had an enormous impact and generated ground-breaking net-zero emission targets from some of the highest-emitting companies around the world. With Ceres’ work to encourage BlackRock to commit to the goals of the initiative, we will assuredly see more impactful results in tackling the global climate crisis!

At a time when the U.S. is actively undermining progress to address the climate crisis and withdrawing from the international Paris Agreement, Ceres is successfully mobilizing increasingly influential private sector leaders to take immediate action to address the threat of a changing climate.

This is a huge step in the right direction for the future of our planet and everyone who depends on a healthy environment and a sustainable economy.

Onward!

Mindy Lubber
CEO and President,
Ceres

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