BlackRock: Take Action on Genocide

BlackRock

BlackRock should institute a genocide-free investment policy to engage with any companies it owns that support genocide avoid investments in companies that don't improve.

A handful of foreign oil companies help to fund the government of Sudan’s deadly campaign of violence against millions of its citizens. BlackRock does not have a genocide-free investing policy and is one of the world’s largest owners of shares of both PetroChina and Sinopec, two of those oil companies. [1] These investments, while legal, are inconsistent with U.S. sanctions explicitly prohibiting transactions relating to Sudan and Syria’s petroleum industries.

U.S. sanctions explicitly prohibit U.S. companies from doing business with the oil industry in Sudan and Syria. Therefore, ExxonMobil, for example, is precluded from supporting Sudan’s oil industry. But BlackRock invests billions of dollars in foreign companies that provide these same services.

As the largest fund manager in the world, BlackRock has substantial influence that it can use to encourage its companies to stop funding genocide, or send a large signal by divesting from companies substantially contributing to genocide.

Over 80% of Americans don't want to be invested in companies tied to genocide [2], and BlackRock has the power to ensure that people don't invest in ways antithetical to their values.

BlackRock agrees that human rights issues have the potential to affect the performance of an investment and believes that consideration of these issues should be factored into its investment analysis and decision-making process. [3] It also fully complies with regulatory restrictions on investments, including U.S. sanctions prohibiting investments in companies that are owned or controlled by the governments of Sudan and Syria. But to fully eliminate the moral and financial risk of genocide from its investment policy, BlackRock must do more.

Tell BlackRock to make sure its investments are genocide-free!

[1] https://www.investorsagainstgenocide.org/campaigns/blackrock/

[2] https://www.investorsagainstgenocide.org/files/KRC-research-results-from-2010-and-2007.pdf

[3] https://www.sec.gov/Archives/edgar/data/1364742/000119312515135243/d891582ddef14a.htm#toc891582_31