NYC Comptroller Lander Statement on BlackRock’s New Board Appointment

New York, NY – New York City Comptroller Brad Lander released a statement on BlackRock, Inc.’s recent appointment of Amin H. Nasser, Chief Executive Officer of the Saudi Arabian Oil Company (“Aramco”), to the company’s board of directors. The statement reads as follows:

“The planet is on fire and without bolder action our portfolios will be, too. BlackRock clearly stated that climate risk is an investment risk, but actions speak louder than words. The appointment of the CEO of the world’s largest oil producer to BlackRock’s board undermines its own stated climate commitments. At a time when financial institutions need to take a collective approach to addressing the financial risks from climate change, BlackRock shareholders expect climate-competent, not climate-conflicted, directors,” said New York City Comptroller Brad Lander.

###