BlackRock

Does the core business genuinely avoid or reduce emissions, or build climate resilience? Share of revenue that is actually 'green'. Fossil-dependent models score low.

BlackRock's core business is capital allocation, not direct emissions reduction; it ranks #2 globally in fossil fuel holdings and, after acquiring Global Infrastructure Partners, more than doubled its fossil fuel company count from 9 to 24 (46% of its private energy portfolio), meaning it is currently a net enabler of high-carbon assets rather than a genuine climate solution.

Credible, science-based targets (SBTi), a real net-zero plan with progress to date, and CDP disclosure — not just a dated press release.

BlackRock has operational net-zero-by-2030 targets for its own Scope 1 and 2 emissions and has published a 2030 Net Zero Statement, but these cover only its tiny operational footprint (2.2 billion kg CO2e total, dominated by financed/Scope 3 emissions); no SBTi validation for financed emissions has been found, and its January 2025 NZAM exit removed the primary commitment governing its portfolio's alignment with net zero, leaving only vague 'transition investing' framing.

Operational footprint, labour and social practices, and governance quality across the company's own operations and supply chain.

BlackRock discloses Scope 1, 2 and 3 operational emissions and has updated its stewardship decarbonization policy for $150B of client assets, and it operates a large sustainable fund range; however, its own admission that NZAM membership 'didn't impact the way we managed client portfolios' severely undercuts the quality of its ESG governance and stewardship in practice.

Quality of disclosure, independent third-party verification, and how much hard data backs the company's claims.

BlackRock publishes detailed annual emissions data and a Climate and Decarbonization Stewardship Summary, and iShares ETF holdings are disclosed daily; however, Reclaim Finance found that 72% of its 'sustainable' passive funds were exposed to fossil fuel expansion, ClientEarth alleged SFDR disclosure failures, and no independently verified SBTi target for financed emissions exists, significantly limiting the credibility of its climate disclosures.

Controversies, litigation, pollution, fossil-fuel lobbying, conflict-zone involvement and governance scandals. Higher means cleaner.

BlackRock faces a landmark greenwashing complaint by ClientEarth with the French AMF alleging $1B+ in fossil fuels inside 'sustainable' funds and SFDR violations; a Texas-led multistate antitrust lawsuit alleging market manipulation in coal; and the reputational fallout of exiting NZAM as a founding member while simultaneously claiming its departure changes nothing about its investment practices — a pattern of contradictions that constitutes a serious and repeated integrity risk.