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  "docSlug": "4eddd58336e4",
  "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 side-by-side comparison of narrative text and a proxy voting record screenshot to demonstrate hypocrisy.",
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      "kind": "callout",
      "text": "BlackRock’s vote ‘FOR’ is a contradiction of BlackRock pledge in 2020 of “Exiting investments that present a high sustainability-related risk, such as thermal coal producers”",
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      "text": "BlackRock’s vote ‘FOR’ is a contradiction of BlackRock pledge in 2020 of “Exiting investments that present a high sustainability-related risk, such as thermal coal producers” (BlackRock CEO Mr. Larry Fink, ‘Dear CEO Letter’, January 14th, 2020)",
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      "text": "BlackRock’s vote ‘FOR’ is a contradiction of BlackRock pledge in 2020 of “Exiting investments that present a high sustainability-related risk, such as thermal coal producers”",
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      "text": "Proxy Voting Results - BlackRock, Inc. Vote Disclosure",
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      "text": "In June 2021, contradicting December 2020’s announcement, Glencore undertook to increase coal exposure by buying out (from Anglo American and BHP), the 66% stake it did not already own in the Colombian mine Cerrejon",
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      "text": "At the 2022 AGM, BlackRock (Glencore’s top 3 shareholder) voted ‘FOR’ the ‘Say on Climate resolution’ proposed by management, who had just announced a significant increase in thermal coal production",
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      "kind": "list",
      "text": "Somewhat (un)surprisingly in the following AGM, BlackRock (pressurised by Bluebell Capital Partners) voted AGAINST the same agenda item",
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      "text": "In December 2020, Swiss mining firm Glencore announced as one of its “priorities” to “Reduce our coal production in line with the electrification and decarbonisation of global energy systems”",
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      "text": "“Exiting investments that present a high sustainability-related risk, such as thermal coal producers” — BlackRock CEO Mr. Larry Fink, ‘Dear CEO Letter’, January 14th, 2020",
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      "kind": "title",
      "text": "BlackRock's contradictory position on thermal coal (continued)",
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