BlackRock

IEEFA Research

IEEFA U.S.: Texas confronts decline in oil and gas industry

IEEFA U.S.: Texas confronts decline in oil and gas industry

Analysis of long-term trends indicates slower growth, fewer jobs and lower tax contributions

July 28, 2021 (IEEFA) ⎼ Texas policymakers, regulators and public opinion have long held that “what’s good for oil is good for Texas.” But Texas’s economy has become more broad-based and the oil and gas sector’s proportionate contribution has declined. State leaders face a new set of facts on the ground about the future of […]

IEEFA: Global investors are moving away from the massive climate-related risks associated with fossil fuels

IEEFA: Global investors are moving away from the massive climate-related risks associated with fossil fuels

Top debt and equity investors committed over $300 billion in 2020 into building renewable energy capacity

19 July 2021 (IEEFA Australia): Despite the economic disruption from COVID-19, top global debt and equity investors are continuing to drive capital into the renewable energy infrastructure sector due to its consistency in providing investment opportunities, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). “Global investors are accelerating their […]

IEEFA: Vanguard funds destroy shareholder wealth with US$290bn in fossil fuels creating a 5.6% performance drag

IEEFA: Vanguard funds destroy shareholder wealth with US$290bn in fossil fuels creating a 5.6% performance drag

A global laggard that has minimal transparency, is passive on climate, and is abrogating its fiduciary duty to best manage risk for investors

22 June 2021 (IEEFA Australia): Vanguard Group, the world’s second largest asset manager, is leaving its investors to face profound wealth destruction risks as the world’s largest investor in fossil fuels, all while insisting climate change is a priority for the company, finds a new report by the Institute for Energy Economics and Financial Analysis […]

IEEFA Japan: ¥26 billion loss on Australian coal power plant raises questions for Sumitomo and its investors

Sumitomo’s coal policies are lagging its trading house peers and the Japanese government

23 November 2020 (IEEFA Japan): As the government of Japan’s energy policy shifts significantly and Japanese trading houses exit coal projects overseas, Sumitomo Corporation continues to develop coal power projects and has seen its thermal coal output grow according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The report, […]

IEEFA: Renewables continue to break records despite COVID-19

IEEFA: Renewables continue to break records despite COVID-19

Solar costs continue to decline

8 June 2020 (IEEFA Australia): Despite the devastating impact of COVID-19, during the months of April and May, renewable energy continued to break records, according to the Institute for Energy Economics and Financial Analysis (IEEFA).  Most strikingly, April 2020 saw the Emirates Water and Electricity Company (EWEC) award a 1.5 gigawatt (GW) solar tender to […]

IEEFA Asia: Asian financial institutions also beginning to exit coal financing

Asia’s gradual exodus away from coal will eventually lead to a landslide

29 April 2020 (IEEFA Asia): Under the cover of COVID-19, Asian financial institutions and corporations have been stepping up and out of coal financing, finds a new briefing note by the Institute for Energy Economics and Financial Analysis (IEEFA). In the last month alone, Japan’s two largest institutional banks, Sumitomo Mitsui Financial Group and Mizuho […]

IEEFA report: BlackRock’s fossil fuel investments wipe US$90 billion in massive investor value destruction

IEEFA report: BlackRock’s fossil fuel investments wipe US$90 billion in massive investor value destruction

Investors need to ask why

August 1, 2019 (IEEFA Asia Pacific)  ̶  BlackRock, the world’s largest fund manager with US$6.5 trillion of assets under management – bigger in value than the third largest economy in the world – continues to ignore the serious financial risks of putting money into fossil fuel-dependent companies, a new report has found. Produced by the […]

IEEFA report: GE made a massive bet on the future of natural gas and thermal coal, and lost

IEEFA report: GE made a massive bet on the future of natural gas and thermal coal, and lost

Investors lost hundreds of billions by GE’s misreading of the energy transition

June 6, 2019 (IEEFA U.S.) – Investors lost billions when the (once) most valuable company in the world, General Electric Company (GE) and its largest shareholders – BlackRock, Vanguard, State Street and Fidelity – misjudged the pace of the global energy transition and subsequent collapse of the gas turbine and thermal power construction market, a […]

More News and Commentary

IEEFA: Will CEO Jane Fraser clean up Citi’s climate record?

As a former Citi executive, I know the bank could change course and lead again

In September 2007, with a mortgage crisis clearly on the horizon, Citigroup’s CEO Charles Prince III gathered with his top executives to understand whether the bank—then the nation’s largest—faced any risk. The consensus was no. How wrong they were. In a year’s time, Lehman Brothers crashed, triggering a global financial collapse. Citigroup lost 90% of […]

October 4, 2021 Read More →

IEEFA U.S.: Harvard fossil fuel divestment can serve as model for other institutions nationally and globally

Harvard divestment raises issue of climate, ethics and investments by higher ed and philanthropies

The recent decision by Harvard to divest from fossil fuels is part of a trend and also a precedent-setting event.  Earlier this year, BlackRock informed the New York City pension funds that the divestment movement is no longer limited to small investment funds. Its report found that an increasing number of large institutional investors are […]

September 22, 2021 Read More →

U.S. Treasury Department will oppose multilateral fossil fuel financing

Reuters: The U.S. Treasury Department issued new energy financing guidance to multilateral development banks on Monday, saying the United States would oppose their involvement in fossil fuel projects except for some downstream natural gas facilities in poor countries. The new guidance from the Treasury, the largest shareholder in major development banks including the World Bank […]

August 17, 2021 Read More →

New York State pension fund reviewing holdings in 42 shale companies

Reuters: The third-largest U.S. public pension fund on Thursday said it is launching reviews over climate concerns on $640 million invested in 42 shale oil and gas firms, including ConocoPhillips (COP.N), Hess (HES.N) and Pioneer Natural Resources (PXD.N). The move by the New York state pension fund comes days after the United Nation’s Intergovernmental Panel […]

August 13, 2021 Read More →
IEEFA U.S.: Texas confronts decline in oil and gas industry
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IEEFA U.S.: Texas confronts decline in oil and gas industry

Analysis of long-term trends indicates slower growth, fewer jobs and lower tax contributions

July 28, 2021 (IEEFA) ⎼ Texas policymakers, regulators and public opinion have long held that “what’s good for oil is good for Texas.” But Texas’s economy has become more broad-based and the oil and gas sector’s proportionate contribution has declined. State leaders face a new set of facts on the ground about the future of […]

BlackRock proxy climate votes against companies rose 502% in 2021

Bloomberg ($): BlackRock Inc. rejected almost five times more board directors at companies, including Berkshire Hathaway Inc. and Exxon Mobil Corp., during the recent proxy season because they failed to act on climate issues. The New York-based asset manager voted against 255 directors in the period ended June 30, up from 55 a year earlier, […]

July 21, 2021 Read More →
IEEFA: Global investors are moving away from the massive climate-related risks associated with fossil fuels
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IEEFA: Global investors are moving away from the massive climate-related risks associated with fossil fuels

Top debt and equity investors committed over $300 billion in 2020 into building renewable energy capacity

19 July 2021 (IEEFA Australia): Despite the economic disruption from COVID-19, top global debt and equity investors are continuing to drive capital into the renewable energy infrastructure sector due to its consistency in providing investment opportunities, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). “Global investors are accelerating their […]

High emerging market bond returns stifling green finance

Bloomberg ($):  Some of the finance world’s biggest climate champions may be undone by a relatively small part of their portfolios: emerging market debt. While many of the world’s poorest countries struggle with the economic devastation from Covid-19 and limited access to vaccines, some of the biggest asset managers and their clients continue to earn […]

July 2, 2021 Read More →
IEEFA Energy Finance 2021: Week two in review

IEEFA Energy Finance 2021: Week two in review

Petrochemicals, renewable energy, storage and financial markets

June 25, 2021 (IEEFA) ⎼ Energy experts, financial analysts, legal specialists, activists and journalists gathered online this week for the second and final week of IEEFA’s 2021 Energy Finance conference. Held remotely due to travel restrictions related to the coronavirus pandemic, experts highlighted the latest trends in the global energy transition. Recordings of the sessions […]

Adani finally strikes coal at Carmichael, “epitome of a stranded asset”

Renew Economy:  It’s official. After a decade of delays, protests and acrimonious debate, followed by two years of expensive construction work, Indian conglomerate Adani has finally got its hands on some actual Queensland coal. “It is wonderful that we have now struck coal,” David Boshoff, chief executive of Adani’s Australian mining operations, said on Thursday. […]

June 25, 2021 Read More →