For Immediate Release: Thursday, March 16, 2017
Contact: Donna De La Cruz,
[email protected] (202) 339-9331

Community Change Applauds Firm’s New Direction

(WASHINGTON)—Community Change applauds BlackRock Inc. for addressing the financial risks of climate change and for stating publicly that companies must be more aware of the risks that cause climate change such as greenhouse gases and rising water levels.

Community Change and Community Change Action have worked tirelessly, and will continue to do so, on issues that the majority of Americans have shown they support including immigration reform that keeps families together, said Deepak Bhargava, the executive director for both organizations.

Community Change and Walden Asset Management, supported by the City of Seattle Employees’ Retirement System and First Affirmative Financial Network, filed a shareholder resolution asking for a review of BlackRock’s proxy voting process and its record on climate change, said Community Change Executive Director Deepak Bhargava. The resolution was withdrawn following conversations with BlackRock and investors that led to the company’s decision to publicly address climate change.

“Climate change is an important environmental issue that affects everyone and we are pleased to see a major investment firm like BlackRock stand up publicly and say it would address risk that cause climate change with companies and boards this year and next,” Bhargava said. “We also hope that BlackRock’s engagement on climate risk will ultimately lead to support for shareholder resolutions on climate change issues. Community Change also intends to continue to press BlackRock on other issues relevant to the public interest.”

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Community Change builds the power and capacity of low-income people, especially low-income people of color, to lead movements to improve the policies that affect their lives. For more information, go to www.communitychange.org and follow us on Twitter @communitychange.