BlackRock in Amazon: ‘World’s Largest Investor in Deforestation’
Tuesday, September 3, 2019
By Ben Piven
As Amazon fires spark unprecedented deforestation, a report released on Friday shows that BlackRock, the world’s largest asset manager, holds extensive investments in the sectors deemed responsible for the devastation of forests in Brazil.
With $6.5 trillion of assets under management, BlackRock was labeled the “world’s largest investor in deforestation” by the report’s authors – Friends of the Earth US, Amazon Watch, and Dutch research firm Profundo.
The report, BlackRock’s Big Deforestation Problem, looks at financial data from 2014 to 2018 showing the global investment management firm to be among the top three shareholders in 25 of the planet’s largest publicly traded companies with “deforestation risk”.
Photo courtesy of Ryk Porras.