Dear John,
This week BlackRock, the world’s largest investment firm, made a HUGE announcement: it will begin shifting hopefully trillions of dollars out of the coal sector. In addition, it will make new investment products fossil-fuel free, and engage with the energy sector to drive a transition away from the era of Big Oil.
This is a major step toward climate justice -- shifting our investment dollars away from planetary destruction and into climate solutions. And people like you made this shift possible. You called, marched, and emailed BlackRock until its CEO had no choice but to change BlackRock’s course.
But BlackRock still has a lot of work to do if it wants to protect the planet. The destruction of the world’s forests is the second largest contributor to the climate crisis -- and BlackRock has a huge deforestation problem. There is no way to solve the climate crisis without protecting the world’s remaining forests. Now let’s push to make sure BlackRock gets the message and adopts a No Deforestation Policy!
Fight rainforest destruction: Tell BlackRock to adopt a No Deforestation Policy!
Every year, big agribusiness slashes an area of tropical rainforest the size of Oregon. Tropical deforestation displaces communities, destroys countless species of plants and animals, and produces nearly a quarter of all global greenhouse gas emissions.
BlackRock manages a jaw-dropping $7 trillion in assets. Despite its recent commitments, BlackRock remains the largest investor in oil, gas, and rainforest destruction. It has more money invested in big agribusiness than any other investor in the world. Now that BlackRock is starting to pay attention to its role in driving the climate crisis, it needs to defund deforestation.
What can BlackRock do to fight deforestation? It can use its shareholder power to pressure companies to stop destroying forests. It can vote out the managers at the companies that let these problems continue. When agribusiness companies refuse to change their ways, BlackRock can exclude them from its portfolios. And it can pioneer the development of deforestation-free funds for all of its clients.
There is no way through the climate crisis that doesn’t involve making Wall Street giants like BlackRock change their ways. With its new commitments to addressing the climate crisis, BlackRock has a huge opportunity to stop financing the destruction of land, forests, and communities.
Protect our planet’s last standing rainforests: Tell BlackRock to stop fueling deforestation!
In 2019, the world watched in horror as the Amazon Rainforest burned. This destruction was driven by soy and cattle companies -- many of which are financed by BlackRock.
Industrial plantation agriculture does not only cause deforestation -- it is also a leading cause of violent land conflicts that dispossess and displace Indigenous peoples and local communities.
BlackRock is one of the largest investors in agribusiness from Brazil to Borneo. It’s time it got on the right side of history and stop funding deforestation and human rights violations.
While BlackRock is bowing to public pressure and waking up to the climate crisis -- the Wall Street giant has not agreed to stop its investments from tearing down the world’s last great rainforests. Our house is on fire, it’s time for all of us to act like it!
Join the anti-deforestation movement: Tell BlackRock to divest from deforestation!
Standing with you,
Gaurav Madan,
Senior forests and land campaigner,
Friends of the Earth
