BlackRock lost $90bn investing in fossil fuel companies - Report

clock • 2 min read

A report from the Institute for Energy Economics and Financial Analysis (IEEFA) has found that the world's biggest investor has eroded the value of its funds by betting on oil companies that were falling in value and by missing out on growth in clean energy investments. Of these losses, around 75% are due to investments in four companies: ExxonMobil, Chevron Corp, Royal Dutch Shell Plc and BP Plc. All have underperformed in the market over the past 10 years. According to IEEFA, BlackRock's management of its fossil fuel holdings was "myopic". "In holding after holding across the coal, ...

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