World’s top three asset managers oversee $300bn fossil fuel investments | Environment | The Guardian

Data reveals crucial role of BlackRock, State Street and Vanguard in climate crisis

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“The world’s three largest money managers have built a combined $300bn fossil fuel investment portfolio using money from people’s private savings and pension contributions, the Guardian can reveal.

BlackRock, Vanguard and State Street, which together oversee assets worth more than China’s entire GDP, have continued to grow billion-dollar stakes in some of the most carbon-intensive companies since the Paris agreement, financial data shows.

The two largest asset managers, BlackRock and Vanguard, have also routinely opposed motions at fossil fuel companies that would have forced directors to take more action on climate change, the analysis reveals.”

Source: World’s top three asset managers oversee $300bn fossil fuel investments | Environment | The Guardian

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