JOURNAL ARTICLE

Sierra Club Drops BlackRock as Asset Manager, Citing Climate Risk.

  • Published In: Bloomberg.com, 2025. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Raimonde, Olivia 3 of 3

Abstract

The article focuses on the Sierra Club's decision to withdraw $10.5 million from BlackRock Inc. due to the asset manager's perceived failure to adequately address climate-related financial risks. The Sierra Club, a prominent environmental organization in the U.S., criticized BlackRock for its exit from the Net Zero Asset Managers initiative and emphasized that "climate risk is financial risk." In response, BlackRock stated its commitment to supporting clients with net zero goals and managing over $1 trillion in sustainable assets. The Sierra Club plans to reallocate its funds to Nia Impact Capital and Xponance Inc. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2025/06, pN.PAG
  • Document Type:Article
  • Subject Area:Environmental Sciences
  • Publication Date:2025
  • Accession Number:186211922
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