FOR IMMEDIATE RELEASE
May 23, 2023
Media Contact: Melissa Garriga | [email protected]
CODEPINK Defends Resolution at BlackRock AGM - Here’s What’s At Stake
The climate crisis needs capital to accelerate. Capital invested into ITA is the vehicle for acceleration.
NEW YORK–BlackRock holds its annual general meeting Wednesday, May 24. A CODEPINK representative, Teddy Ogborn, will defend Item 7 or the “Impact Report for Climate-Related Human Risks of iShares U.S. Aerospace and Defense Exchange-Traded Fund (ITA)” resolution.
Only seven shareholder proposals are going to a vote at the general meeting. In BlackRock’s proxy statement, the board unanimously recommends voting against Item 7. The resolution, submitted by CODEPINK’s War Is Not Green campaign, calls on BlackRock to research and publish the climate impacts of its weapons investment offering.
For clarity, the resolution does not call on BlackRock to change anything within ITA (the code for this defense and aerospace investment vehicle). The resolution merely states that BlackRock should produce a report on the human costs of any climate impact from companies represented in ITA.
By refusing to provide a clear report on the ecological and human cost of the ITA, BlackRock remains culpable for the worsening climate crisis. We believe investors should know what they are funding in order to accurately exercise their “fiduciary duty.”
The climate crisis needs capital to accelerate. Capital invested into ITA is the vehicle for acceleration. Those who fund the climate catastrophe and death of innocent people should know what their dollars are doing so they can decide whether or not they want to be the catalyst for climate disaster. You can read the resolution here.
About CODEPINK's War Is Not Green campaign:
Funding endless war is an existential threat to human life and one of the leading causes of climate change. Together, we can demand an end to militarism and the harm it causes our planet while also diverting funds from the Pentagon to much-needed social services and a massive upscaling of our renewable, clean energy infrastructure.
Learn more about CODEPINK’s War is Not Green campaign.
###
