BlackRock, the world’s largest asset manager with more than $6.8tr in assets under management, has signed up as a member of Climate Action 100+, the investor engagement initiative to ensure corporate greenhouse gas emitters take necessary action on climate change.

BlackRock joins more than 370 global investors who have already participating in the initiative, and the addition of funds it manages brings total assets under management represented by investors participating in Climate Action 100+ to more than $41tr.

“BlackRock is one of the largest and most influential asset managers in the world and will bring even more heft to investor engagement through Climate Action 100+,” said Emily Chew current Climate Action 100+ steering committee chair and global head of ESG research and integration at Manulife Investment Management. “We look forward to working with BlackRock to build on the initiative’s success and work to ensure companies take the urgent and necessary action needed in response to the climate crisis.”

As signatories, investors commit to engagement with companies, in seeking to ensure they take action to reduce greenhouse gas emissions across the value chain in line with the overarching goals of the Paris Agreement, implement a strong governance framework which clearly articulates the board’s accountability and oversight of climate change risks and opportunities and provide enhanced corporate disclosure in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

161 companies are engaged through Climate Action 100+. This include 100 ‘systemically important emitters’, accounting for two-thirds of annual global industrial greenhouse emissions, alongside 61 others with significant opportunity to drive the clean energy transition.

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