CleanTechnica•3 months ago
Sierra Club Applauds NYC Comptroller Recommendation to Drop BlackRock Over Inadequate Climate Plans
- •New York City Comptroller recommends pension systems divest $42 billion from BlackRock due to the asset manager's 'inadequate climate plans,' despite the pension funds' own net-zero by 2040 targets.
- •This action signifies escalating pressure from public entities and environmental groups on major financial institutions to align investment portfolios with aggressive climate goals.
- •The move indicates a potential shift in capital availability and financing costs for energy projects, likely favoring those with strong ESG credentials and increasing scrutiny on fossil fuel investments.
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