BlackRock is the world’s leading investor in fossil fuels.
With nearly $17 trillion under management combined, BlackRock and Vanguard are the world’s largest investors in fossil fuels and companies driving deforestation and human rights abuses across the globe. Due to their massive investments, BlackRock and Vanguard have an outsized influence at fossil fuel companies, energy utilities and financial firms. Since 2018, the BlackRock’s Big Problem network has campaigned on BlackRock to put climate justice front and center in its business practices. And in 2022, a new campaign was launched to also pressure Vanguard to act on climate.
In March 2022, we launched the ‘Wall Street’s Moment of Truth” campaign to push major investors, including BlackRock & Vanguard, to vote yes on climate resolutions at the Annual General Meetings (AGMs) of US banks and insurance companies. From STMP’s email list, more than 60,000 people sent emails to banks, insurers, and investors, 1,000+ people made phone calls to our targets, 75,000 people signed our campaign petition and 120 organizations signed our sign-on letter. We also supported many of our coalition partners in organizing their own digital actions on our targets. In addition, there were high-impact, in-person actions at the AGMs of all of our main targets.