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

Shale gas producers push ESG goals on investor calls

S&P Global Market Intelligence ($): Across the board, pure-play shale gas producers are increasingly talking about environmental, social and governance issues in analyst and investor calls, according to an S&P Global Market Intelligence analysis of company call transcripts. Shale gas producers are under pressure from their LNG export customers to deliver natural gas with lower […]

June 7, 2021 Read More →

State Bank of India balancing between BlackRock, coal demand

Bloomberg($): India’s biggest bank is caught between investors like Larry Fink and Narendra Modi. State Bank of India needs to finance coal projects to meet the Indian leader’s push to electrify more homes, yet it wants to back renewable projects to appease global money managers including Fink’s BlackRock Inc., Storebrand ASA and Amundi SA. For […]

June 3, 2021 Read More →

Black day for Big Oil as courts, investors hand losses to Exxon and Shell

Wall Street Journal ($): Exxon Mobil Corp. and Royal Dutch Shell suffered significant defeats Wednesday as environmental groups and activist investors step up pressure on the oil industry to address concerns about climate change. In a first-of-its-kind ruling, a Dutch court found that Shell is partially responsible for climate change, and ordered the company to […]

May 27, 2021 Read More →

Wall Street hiring political insiders to protect $30 trillion in ESG assets

Bloomberg ($): Mark Carney to Brookfield Asset Management. Brexit architect Nigel Farage to DGB Group. A senior Obama aide to BlackRock Inc. One after another, the high-profile hires came in recent months, and in each case, they were handed some iteration of the same mandate: To help their new employers safeguard and grow their burgeoning […]

May 27, 2021 Read More →

Activist investors hand historic defeat to ExxonMobil in proxy battle

Wall Street Journal ($): An activist investor won at least two seats on the board of Exxon Mobil Corp. XOM +0.65% , a historic defeat for the oil giant that will likely force it to alter its fossil-fuel focused strategy and more directly confront growing shareholder concerns about climate change. Exxon said Wednesday a preliminary […]

May 27, 2021 Read More →

BlackRock may be pivotal vote in next week’s ExxonMobil proxy battle

Reuters ($): Top asset manager BlackRock could determine the outcome of a proxy fight between Exxon Mobil and a hedge fund seeking to reshape the oil giant’s board and future direction. Exxon’s 12 directors are up for election on May 26, in a vote that offers a high profile test of BlackRock’s approach to getting […]

May 20, 2021 Read More →
IEEFA: IEA’s net zero emissions by 2050 maps the huge increase in global ambition

IEEFA: IEA’s net zero emissions by 2050 maps the huge increase in global ambition

Collective global government and corporate pledges, accelerating financial flows and straight economic gains make this a necessary, realistic and achievable outcome

The International Energy Agency’s (IEA) Net Zero by 2050 energy sector roadmap out today says the world should add “no new oil and gas fields approved for development in our pathway, and no new coal mines or mine extensions are required”. Simply put, more fossil fuels are entirely inconsistent with reduced emissions. Existing unabated coal […]

May 18, 2021 Read More →

Global asset managers call for uniform climate reporting metrics

IHS Markit ($): Global asset managers, tired of dealing with multiple regimes for disclosing climate and environment-related risks, say governments need to establish a uniform, yet simple, metric for reporting that will drive investments for achieving net-zero carbon goals. “We cannot live with 300 different standards. It should be a global one; so it’s comparable […]

May 7, 2021 Read More →

IEEFA: Whitehaven’s Vickery coal folly

Company’s shareholder wealth destruction is extreme and ongoing

Whitehaven Coal has long set its strategic direction on the implicit assumption that the world would fail to deliver on the Paris Agreement. Its investor communications and Board strategies have largely ignored and more recently downplayed this key financial and strategic risk. The financial market however is not so blind. The shares of Whitehaven Coal […]

April 28, 2021 Read More →

IEEFA U.S.: Colorado legislature considers bill to divest state pension fund from fossil fuels

Colorado lawmakers, following lead of other major funds, seek to drop coal, oil and gas stocks

April 19, 2021 (IEEFA) ⎼ A Colorado bill that would require the state’s employee retirement fund to drop investments in fossil fuels within a year of passage is likely to safeguard  the fund’s performance, pensioners and taxpayers, IEEFA’s director of financial analysis told a legislative committee today. The measure, HB21-1246, would require the Public Employees […]

April 20, 2021 Read More →