BlackRock
Asset management
World's largest asset manager, with about $7 trillion in assets under management.

Overall

Owned USA
Rating F
About the Ratings
BlackRock Inc
USA

Company Assessment

(Last updated Jul 2024)
BlackRock Inc
Praise
JUST Capital ranking
JUST Capital polls Americans every year to identify the issues that matter most in defining just business behaviour. For their 2024 rankings the public identified 20 issues, which are organised under the headings Workers, Communities, Customers, Shareholders and Environment. JUST Capital then define metrics that map to those issues and track and analyse the largest, publicly traded U.S. companies. This analysis powers their rankings, in which this company ranked 96th of 937 companies, and 3rd of 38 Capital Markets companies.
100% on Corporate Equality Index
This company is listed as having best practice on a report card on lesbian, gay, bisexual and transgender equality in corporate America.
64.1/100 in Newsweek rankings
America's Most Responsible Companies 2022 by Newsweek and Statista recognises the Top 500 most responsible companies in the United States. Companies were evaluated in three areas: environmental (waste, energy use, etc.), social (leadership diversity, employees and philanthropy) and governance (transparency and economic performance). This company received a total score of 64.1/100, ranking 41st in the Financial sector, and 470th overall.
Criticism
Funding deforestation in Brazil
Amazon Watch's 2020 report, Complicity in Destruction III, reveals how a network of leading international financial institutions is linked to conflicts on Indigenous lands, illegal deforestation, land grabbing, the weakening of environmental protections, and the production and export of conflict commodities. The report identified six major US-based financial institutions, including this one, that contributed more than US$18 billion to nine companies between 2017 and 2020.
World's largest investor in fossil fuels
As the world's biggest investor, BlackRock is also the world's biggest owner of fossil fuel companies. BlackRock owns more coal, oil and gas, and rainforest destruction than any other US company.
5.5% in Forest 500 Rankings
Forest 500 identifies the 350 companies and 150 financial institutions with the greatest exposure to tropical deforestation risk, and annually assesses them on the strength and implementation of their deforestation and human rights commitments. This financial institution received a score of 5.5%.
Investing in single-use plastic waste
This company is the world's 7th largest equity owner of companies producing single-use plastic waste, according to Minderoo Foundation's 2021 Plastic Waste Makers Index. Institutional asset managers and global banks are providing billions of dollars to companies that produce polymers from fossil fuels, as much as 100 times more than they provide to companies trying to shift to a circular economy. Plastic pollution is one of the biggest, most urgent threats facing our planet and our health.
Financing cluster munitions producers
The 2018 update to the report entitled "Worldwide Investments in Cluster Munitions" identifies 88 banks and other financial institutions with significant financial links to cluster munitions producers. This bank is listed in the report's Hall of Shame for having investments in one or more of the 7 cluster munitions producers named in the report.
13% in Human Rights Benchmark
This company was among the worst-performers in the Renewable Energy & Human Rights Benchmark 2021, which evaluates the human rights policies and practices of 15 of the largest global renewable energy companies. The highest score was 60% and the average score was just 28%. This company scored 13%.
Financing nuclear weapons producers
The 2018 update of the International Campaign to Abolish Nuclear Weapons' (ICAN) global report, "Don't Bank on the Bomb" showed that 329 financial institutions from around the world invested into 20 companies involved in the production, maintenance and modernization of nuclear weapons. Since 2014 this financial institution invested over US$38 billion into 18 of the 20 nuclear weapons producers named in the report.
Source: ICAN (2018)
World's largest investor in deforestation
BlackRock's Big Deforestation Problem, a 2019 report released by Friends of the Earth US; Amazon Watch; and Profundo, a Dutch financial research firm, tracked financial data between 2014 and 2018 to show that BlackRock is among the top three shareholders in 25 of the world's largest publicly listed "deforestation-risk" companies - companies active in producing and trading soy, beef, palm oil, pulp and paper, rubber and timber - and among the top ten shareholders in 50 more of the world's largest deforestation-risk companies.
"Net zero" greenwash
'The Big Con' is a 2021 report by Corporate Accountability, Friends of the Earth and others that makes clear that Big Polluters' idea of "net zero" is part of their continued plan to protect deeply unjust global systems, distract from taking the real action needed, and to evade responsibility for the climate crisis and to continue to pollute. This company was named in the report as one whose "net zero" climate commitments are anything but real action.
7.5/20 in Social Benchmark
The 2024 Social Benchmark assesses the world's 2,000 most influential companies on their responsibility in meeting society's fundamental expectations towards three measurement areas: respecting human rights, providing decent work, and acting ethically. This company was assessed in 2022 and received a score of 7.5/20. The average score was an alarmingly low 4.6/20 and the highest score was 15.5/20.
Information
CEO Pay Ratio of 212:1
In 2022 the median pay for a worker at this company was US$154,312. The CEO was paid 212 times this amount. Exorbitant CEO pay is a major contributor to rising inequality. CEOs are getting more because of their power to set pay, not because they are increasing productivity or possess specific, high-demand skills. The economy would suffer no harm if CEOs were paid less (or taxed more). In contrast, the CEO-to-typical-worker compensation ratio was 20-to-1 in 1965 and 58-to-1 in 1989.
Excessive CEO pay
As You Sow's 2019 report, 'The 100 Most Overpaid CEOs', reveals the 100 most overpaid CEOs from USA's 500 largest public companies (as determined by the S&P 500 list). This company's CEO, Laurence D. Fink came in at number 26 on the list, having been paid US$27,743,233 in 2018. According to the report, "Most CEOs have come to be grossly overpaid, and that overpayment is harmful to the companies, the shareholders, the customers, the other employees, the economy, and society as a whole."
Gender equality
This company appears on the 2023 Bloomberg Gender-Equality Index, signifying a commitment to supporting gender equality through policy development, representation, and transparency.
Green Bond Principles member
Green Bonds enable capital-raising and investment for new and existing projects with environmental benefits. The Green Bond Principles are voluntary process guidelines that recommend transparency and disclosure and promote integrity in the development of the Green Bond market by clarifying the approach for issuance of a Green Bond.
Source: IMCA (2018)
Ellen MacArthur Foundation strategic partner
This company is a strategic partner of the Ellen MacArthur Foundation, whose stated mission is to accelerate the transition to a circular economy. The Ellen MacArthur Foundation works with business, government and academia to build a framework for an economy that is restorative and regenerative by design.
CDP Climate Change Score of C
In 2022, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to reduce greenhouse gas emissions and mitigate climate change risk. Responding companies are scored across four key areas: disclosure; awareness; management; and leadership. This company received a CDP Climate Change Score of C.
Source: CDP (2022)
52/100 S&P Global ESG Score
This company received an S&P Global ESG Score of 52/100 in the Diversified Financial Services and Capital Markets category of the S&P Global Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices (last updated 23 Sep 2022). The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
34.4% in Financial System Benchmark
The 2022 Financial System Benchmark ranks 400 financial institutions across three measurement areas: governance and strategy, respecting planetary boundaries (environment, climate and biodiversity) and adhering to societal conventions (human rights). This company ranked #20/400, with a total score of 34.4/100.
Facing Finance profile
This company is listed on the Facing Finance website as a financial institution which invests in companies that manufacture weapons or profit from violations of human rights, pollution, corruption, or international law. Follow link for further details.

Company Details

Type:
Public company
Founded:
1988
Revenue:
16.2 billion USD (2020)
Subsidiaries:
Authentic Brands Group LLC (30% owned)
Brand development and licensing
Purchases brands in the sports, celebrity and fashion categories and licenses the intellectual property to leading retailers, wholesalers, and manufacturers worldwide. Acquired Juicy Couture in 2013, Tretorn in 2015 and Nautica and Nine West in 2018. Bought Van Heusen, Arrow and Izod from PVH, and Reebok from Adidas in 2021. Acquired Ted Baker in 2022, Boardriders and Rockport in 2023, and Sperry and Champion in 2024. Private equity firms BlackRock, CVC and HPS own significant stakes.
Reebok
Sportswear
Global athletic footwear and apparel company founded in 1958. Acquired by Adidas in 2005, who sold it to Authentic Brands Group in 2021.
Volcom Inc
Boardsport clothing and footwear
Founded by Richard Woolcott and Tucker Hall in 1991. Designer, marketer and distributor of action sports apparel and accessories for young men and women. Acquired by Authentic Brands Group in 2019.
Boardriders Inc
Surfwear and youth clothing
Established in Torquay, Australia in 1969, but now based in California, USA. Formerly Quiksilver Inc, the company changed its name to Boardriders Inc in May 2017, and in 2019 it bought struggling Australian surfwear giant Billabong for $200m. Controlled by Oaktree Capital from 2015 until 2023, when Blackrock-controlled Authentic Brands Group took over ownership. Operates over 700 stores in over 30 countries.
Billabong International Ltd
Surfwear
Founded on Australia's Gold Coast in 1973. After years of struggling financially, in 2013 Billabong was acquired by Quiksilver owner Oaktree Capital. Part of Blackrock-controlled Authentic Brands Group since 2023.
Quiksilver Australia Pty Ltd
Youth clothing
Quiksilver was established in Torquay, Australia in 1970. Now based in USA.
Ted Baker plc
Clothing retail
London-based fashion retailer founded in Scotland in 1988 and acquired by Authentic Brands Group in 2022.
Rockport Group
Shoe manufacturer
Founded in 1971 and acquired by Reebok in 1986, which became a part of Adidas in 2005. Adidas sold the Rockport business in 2015, and then in 2018 Rockport filed for bankruptcy and was acquired by Charlesbank Capital Partners. Filed for bankruptcy again in 2023 and was subsequently bought by Authentic Brands Group.
SPARC Group LLC (33% owned)
Retail
Joint venture between Simon Property Group, a retail real estate company and Authentic Brands Group, a brand development company. SPARC stands for Simon Property Authentic Retail Concepts. In 2023 Chinese fast fashion company Shein bought a 33% stake.
Eddie Bauer LLC
Clothing retail
Acquired in 2021 by SPARC Group, a joint venture between Simon Property Group and Authentic Brands Group.
Forever 21 Inc
Youth fashion
Founded in California in 1984 by CEO Don Chang and his wife. About 60% of its apparel is manufactured in China. Operates about 500 retail stores around the world. Filed for bankruptcy in 2019 and acquired by Authentic Brands Group, Simon Property Group and Brookfield Property Partners in 2020. Forever 21 entered Australia in 2014, but left in 2017.

Contact Details

Address:
New York, New York, USA
Website:
www.blackrock.com

Products / Brands

Authentic Brands Group (30% owned)
Airwalk Skate Shoes
Arrow Mens Business Shirts
Champion Sportswear
Champion Sports Shoes
Geoffrey Beene Mens Business Shirts
Izod Sportswear
Juicy Couture Womens Fashion
Sperry Sports Shoes
Sperry Mens Shoes
Sperry Womens Shoes
Tretorn Mens Shoes
Tretorn Womens Shoes
Van Heusen Menswear (formal)
Van Heusen Mens Business Shirts
Vision Street Wear Snow/Skate/Surfwear
Volcom Snow/Skate/Surfwear
Boardriders (30% owned) Ted Baker (30% owned)
Ted Baker Womens Fashion
Ted Baker Menswear (casual)
Rockport (30% owned) / Munro Footwear Group (distributor)
Rockport Mens Shoes
Rockport Womens Shoes