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Pin to quick picksHSBC Holdings Share News (HSBA)

Share Price Information for HSBC Holdings (HSBA)

London Stock Exchange
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Share Price: 663.60
Bid: 663.70
Ask: 663.80
Change: 1.70 (0.26%)
Spread: 0.10 (0.015%)
Open: 663.10
High: 665.80
Low: 661.10
Prev. Close: 661.90
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UPDATE 1-BlackRock joins investor group seeking emission curbs

Thu, 09th Jan 2020 16:40

(Adds context on investor group and BlackRock's past voting
record, activist comments)

By Ross Kerber

BOSTON, Jan 9 (Reuters) - Top asset manager BlackRock Inc
said on Thursday it has joined the Climate Action 100+
investor group seeking emission curbs.

A spokesman for New York-based BlackRock said via e-mail
that "evidence of the impact of climate risk on investment
portfolios is building rapidly" and reiterated past comments the
company will accelerate its talks with corporate executives on
climate risk.

Climate Action 100+ was begun in 2017 and includes nonprofit
organizations and investors including units of HSBC Holdings PLC
, Manulife Financial Corp and the California
Public Employees' Retirement System.

With some $7 trillion under management BlackRock has an
influential voice on how large corporations act on climate
matters such as greenhouse gas emissions.

However to date BlackRock has taken few steps sought by
critics such as backing shareholder resolutions calling for more
emissions disclosures or giving details of its specific talks
with corporate executives.

The BlackRock spokesman, Farrell Denby, did not provide more
details or make executives available for comment

Several activists said they welcomed BlackRock's step but
are waiting to see what specific actions the asset manager might
take.

"BlackRock needs to lend its voice to the many involved in
CA100+ calling for no new investment in expanding fossil fuel
production," said Mark Campanale, chairman of London-based
climate researcher Carbon Tracker, via e-mail.

In a statement on its website Climate Action 100+ steering
committee member Mindy Lubber said that "With BlackRock’s
commitment to the goals of the initiative, we will assuredly see
more impactful results in tackling the global climate crisis."

(Reporting by Ross Kerber;
Editing by Chizu Nomiyama and Andrea Ricci)

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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