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  "documentTitle": "BlackRock (BLK)",
  "authorId": "23_Bluebell_Capital",
  "authorName": "Giuseppe Bivona and Marco Taricco",
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  "presentationDate": "2024-04-09 00:00:00",
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  "notes": "Uses a 'Narrative vs. Analysed' structure to expose greenwashing.",
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      "text": "BlackRock’s pledge to exit investment in thermal coal is a contradicting (and Pharisaic) pledge, especially considering that 90% of BlackRock's equity assets are held in passive strategies.",
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      "text": "Hands holding coal",
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      "text": "In 2020, BlackRock pledged “exiting investments that present a high sustainability-related risk, such as thermal coal producers” (CEO Mr. Fink)(1)\nAt the same time the statement was diluted in a concurrently issued ‘Dear Client Letter’ where the measure - initially set to be accomplished “by the middle of 2020” - was restricted solely to “discretionary active investment portfolios”(2)\nBlackRock’s pledge to exit investment in thermal coal is a contradicting (and Pharisaic) pledge, especially considering that 90% of BlackRock's equity assets are held in passive strategies(3)",
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      "text": "1. BlackRock CEO Mr. Fink, ‘Dear CEO Letter’, January 14th, 2020\n2. BlackRock, “Sustainability as BlackRock's New Standard for Investing”, January 14th, 2020\n3. Source: BlackRock's email to Bluebell Capital Partners dated 23 March 2023",
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