
$7tn investor BlackRock announces Coal divestment, but not across all funds
Low oil price alongside rise in renewables sees Oil & Gas slide to bottom of S&P 500
BlackRock’s decision to divest from coal, as the world's largest asset manager with a long shareholder history of voting against climate action, sends a powerful signal. By mid-2020 BlackRock’s $1.8tn of actively managed funds will divest from any firm generating more than 25% of revenue from thermal coal. Further reviews of sectors heavily reliant on thermal coal will also take place. Tim Buckley, Tom Sanzillo and Melissa Brown at IEEFA welcome … [Read more...]
In December we reported that in 2018, the U.S. became the world's leading oil producer for the first time since the 1970s. It is tipped to produce 12 million barrels of oil per day this year (up approximately 10% year on year), and over two-thirds of it will come from shale producers. But the consequent squeeze on the oil price meant U.S. Oil & Gas firms ended the second year in a row at the bottom of the stock market. IEEFA’s director of … [Read more...]
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