Despite BlackRock's attempts to model itself as a sustainable investor, one report shows that BlackRock is the world’s largest investor in coal plant developers, holding shares worth $11 billion among 56 coal plant developers.[79] Another report shows that BlackRock owns more oil, gas, and thermal coal reserves than any other investor with total reserves amounting to 9.5 gigatonnes of CO2 emissions – or 30 percent of total energy-related emissions from 2017.[80] Concerned about global warming, environmental groups including the Sierra Club,[81] and Amazon Watch [82] launched a campaign called BlackRock's Big Problem in September 2018.[83] In this campaign, these groups assert that BlackRock is the "biggest driver of climate destruction on the planet", due in part to its refusal to divest from fossil fuel companies.[83] On January 10, 2020 a group of climate activists rushed inside the Paris offices of Black Rock France painting walls and floors with warnings and accusations on the responsibility of the company in the current climate and social crises.[84]

On January 14, 2020, BlackRock CEO Laurence Fink declared that environmental sustainability would be a key goal for investment decisions. BlackRock announced that it would sell $500 million worth of coal-related assets, and create funds that would avoid fossil-fuel stocks, two moves that would drastically shift the company's investment policy.[44] Environmentalist Bill McKibben called this a "huge, if not final, win for activists."[45] But BlackRock's support for shareholder resolutions requesting climate risk disclosure fell from 25% in 2019 to 14% in 2020 according to Morningstar Proxy Data.[85]

It's corporate coercion all the way down. Comply with the agenda or starve.