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31 Oct 2019

Brazil: BlackRock labelled 'world’s largest investor in deforestation'; company responds

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According to report by Friends of the Earth US (FOE), Amazon Watch and Dutch research firm Profundo, BlackRock is the world’s largest investor in deforestation with holdings in six sectors - soy, beef, palm oil, rubber, timber and pulp/paper, all of which have been accused for encouraging the devastation of the Amazon in Brazil. The Business and Human Rights Resource Centre contacted BlackRock for a response to these allegations; the response is below. Amazon Watch and FOE submitted a rejoinder to BlackRock's response; also available below. BlackRock declined to respond to the rejoinder.