Fair Money & Economic Opportunity

As an investment management firm, BlackRock does not offer consumer credit products, therefore, KPIs related to APRs, exploitative fees, fair lending compliance, and customer debt burden ratios are not applicable. Similarly, the company does not operate financial service access points, making geographic inclusion not applicable. BlackRock's Emergency Savings Initiative provided access to savings tools for over 10 million people, leading to $2 billion in new liquid savings between 2019 and 2022.

In May 2023, a financial program for young women aged 16-19 was launched in partnership with Inspiring Girls USA. The BlackRock Impact Opportunities Fund secured over $800 million in initial commitments by May 2022, focusing on investments in businesses and projects serving people of color. Model Portfolios for Women were introduced in July 2022, tailored to women's financial journeys. The BlackRock Foundation was established in February 2020 with a $589 million charitable contribution to promote economic mobility. However, specific quantitative data required by the rubric, such as percentages of customers reached or profit reinvested, are not provided in the articles, preventing scoring for these initiatives.

Fair Pay & Worker Respect

In 2023, BlackRock's CEO compensation was 166 times the median employee pay.

The company conducts regular pay equity analyses and adheres to internationally recognized human rights and labor standards, including the UN Guiding Principles and ILO Core Conventions. BlackRock offers comprehensive healthcare and mental health benefits, retirement savings plans, flexible time-off, and parental leave. The firm has a multi-year DEI strategy, launched the Interfaith, Culture & Allies Network in 2023, and has surpassed goals for increasing representation of senior women and overall Black and Latinx employees. A 2022 racial equity assessment confirmed significant strides in DEI.

Fair Trade & Ethical Sourcing

BlackRock, an investment management firm, does not procure or trade physical commodities, nor does it have material sourcing of at-risk inputs. The company has established a Supplier Code of Conduct & Ethics, setting expectations for its suppliers regarding human rights, inclusion and diversity, sustainability, integrity, and ethical management.

BlackRock commits to human rights in line with international standards, including the UN Guiding Principles and the ILO's Core Conventions, ensuring safe workplaces, fair wages, and compliance with child labor laws. It also prioritizes relationships with diverse and sustainable third-party suppliers.

Honest & Fair Business

BlackRock faces significant ESG-related controversies, including a 2024 lawsuit from Texas and other states, supported by the U.S. Department of Justice and Federal Trade Commission, alleging antitrust violations for influencing corporate strategies to suppress competition

. In August 2024, Indiana issued a cease-and-desist order alleging 54 counts of securities violations for misrepresentations regarding ESG commitments . Tennessee settled a lawsuit in January 2025, which had accused BlackRock of misleading investors about its ESG strategies . BlackRock also lost approximately $4 billion in assets under management due to political backlash related to ESG . The Securities and Exchange Commission (SEC) fined BlackRock Advisors $2.5 million in October 2023 for inaccurately describing investments made by a fund it advised . BlackRock has a Global Policy for Reporting Potential Illegal or Unethical Conduct, which includes an independent third-party administered hotline and website . The policy prohibits retaliation against employees who make good faith reports and allows anonymous reporting . Employees are required to acknowledge the Code of Business Conduct and Ethics annually , and education and training are conducted . Investigations aim to finalize within six months, with updates provided at least quarterly . BlackRock has a Global Anti-Bribery and Corruption Policy that prohibits improper payments to public officials or private sector individuals to gain a business advantage . This policy applies to all employees , and annual acknowledgment is required .

Kind to Animals

BlackRock's investment activities have a significant negative impact on animal welfare. The company is identified as the world's largest investor in deforestation

, with over $5 billion invested in 20 agribusiness companies implicated in environmental abuses , leading to the devastation of the Amazon and other major forests, and contributing to biodiversity loss . This has resulted in approximately 150 million trees being cut in the Amazon . While BlackRock's Green Team Network raised over $12,000 for conservation and employees planted over 59,000 trees , these efforts are nominal compared to the scale of habitat destruction linked to its investments. Regarding animal agriculture ethics, BlackRock, as a 7.1% shareholder in McDonald's , voted against an activist investor's initiative to eliminate the use of gestation crates for pigs, which are a form of extreme confinement . This action directly supported the continuation of practices involving severe animal cruelty. BlackRock also invests in 150 global food companies with subpar farm animal welfare policies and holds significant stakes in agribusiness companies in the cattle sector . BlackRock's own agribusiness sustainability policy does not address livestock . For KPIs related to direct operations such as cruelty-free certification, alternative testing, humane certified operations, ethical input substitution, cage-free sourcing, animal testing policy, animal testing volume, and animal-free R&D collaboration, BlackRock's business model as an investment management firm means these are not applicable. No specific evidence was found for supplier audits for welfare compliance, innovation investment in animal-free technologies, or public policy engagement on animal welfare.

No War, No Weapons

BlackRock holds substantial investments in defense and weapons manufacturing companies, including major contractors like Lockheed Martin, Boeing, and Chinese defense firms involved in nuclear buildup.

Its ESG funds, specifically the BlackRock LifePath ESG Index 2050 Fund, have 2.79% of their portfolio invested in military contractors, including companies involved in nuclear and controversial weapons. Despite efforts to introduce firearms-free funds and engagements with firearms manufacturers, reports indicate limited tangible changes. This demonstrates a lack of an effective conflict-zone divestment policy, no codified ethical red lines against investments in controversial weapons, and consequently, a 0% compliance rate with ethical boundaries in this sector, with no significant divestment completed.

Planet-Friendly Business

In 2023, BlackRock matched 100% of its electricity consumption with renewables

. The firm has committed to reducing Scope 1 and 2 greenhouse gas emissions by 67% and Scope 3 business travel emissions by 40% by 2030 . Supplier engagement is planned for setting science-aligned goals by 2025 . BlackRock updated its climate stewardship policies in 2024 for decarbonization-focused funds, which apply to European funds with $150 billion AUM and include enhanced screening . The company left the Net Zero Asset Managers initiative (NZAMI) in 2025 due to political pressure but states it remains committed to climate risk assessment . Support for ESG proposals declined to 4% from 47% in 2021 .

Respect for Cultures & Communities

BlackRock has faced criticism from Indigenous leaders and environmental defenders regarding its investments in companies linked to deforestation and violations of Indigenous land rights.

Public letters and calls for action highlighted a perceived lack of specific measures and explicit policies from BlackRock to ensure its investments respect Indigenous rights and environmental sustainability. This indicates reactive or insufficient responses to these cultural incidents and controversies.

Safe & Smart Tech

BlackRock employs data anonymization and fairness testing to protect privacy and mitigate biases.

The company's cybersecurity governance includes oversight by the Board of Directors' Risk Committee and a Chief Information Security Officer, along with robust incident response plans and third-party risk management.

Zero Waste & Sustainable Products

BlackRock launched the BGF Circular Economy Fund in October 2019

, which grew to USD 1.6 billion by 2023. This fund is specifically designed to invest in companies that promote a circular economy by minimizing waste and enhancing recycling. Furthermore, BlackRock partners with the Ellen MacArthur Foundation to integrate circular economy principles into its investment strategies and accelerate the transition to a circular economy.