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BlackRock urged to cut oil and gas stakes

BlackRock’s plan to divest from coal, announced last month, fails to satisfy green campaigners

BlackRock urged to cut oil and gas stakes
Photo: Getty Images

Political heavyweights and climate activists have called on BlackRock, the world’s largest investor, to slash its holdings in oil and gas companies to demonstrate its commitment to the escalating climate emergency.

The $7tn asset manager wrote to clients on 14 January to announce that its active funds, which oversee $1.8bn, would pull investments in companies that derive more than 25% of revenues from thermal coal production by mid-2020.

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