Blackrock

Blackrock's Carbon Emissions and Climate Commitments

Blackrock, headquartered in the US and operating in financial intermediation services, has disclosed its carbon emissions across various scopes for several years.

Recent Emissions Data:

• 2024: Scope 3 emissions were approximately 47,718,460 kg CO2e, and Scope 1 and 2 emissions totalled approximately 7,930,500 kg CO2e.
• 2023: Total emissions reached approximately 244,587,000,000 kg CO2e. This included Scope 1 emissions of about 269,400,000,000 kg CO2e, Scope 2 market-based emissions of approximately 8,257,000 kg CO2e, and Scope 3 emissions of about 2,178,800,000,000 kg CO2e.
• 2022: Scope 1 emissions were approximately 6,401,000 kg CO2e. Scope 2 market-based emissions totalled approximately 8,783,000 kg CO2e, and Scope 3 emissions were approximately 250,345,000 kg CO2e (for purchased goods and services alone).
• 2021: Scope 1 emissions were approximately 5,308,000 kg CO2e. Scope 2 market-based emissions were about 6,919,000 kg CO2e, and Scope 3 emissions were approximately 241,526,000 kg CO2e (for purchased goods and services).
• 2020: Scope 1 emissions were approximately 4,090,000 kg CO2e. Scope 2 market-based emissions were about 5,736,000 kg CO2e, and Scope 3 emissions were approximately 214,957,000 kg CO2e (for purchased goods and services).
• 2019: Scope 1 emissions were approximately 6,386,000 kg CO2e. Scope 2 market-based emissions totalled about 9,133,000 kg CO2e, and Scope 3 emissions were approximately 249,356,000 kg CO2e (for purchased goods and services).
• 2018: Scope 1 emissions were approximately 4,805,000 kg CO2e. Scope 2 market-based emissions were about 9,555,000 kg CO2e.
• 2017: Scope 1 emissions were approximately 5,050,000 kg CO2e. Scope 2 market-based emissions totalled about 10,454,000 kg CO2e.
• 2016: Scope 1 emissions were approximately 4,281,000 kg CO2e. Scope 2 market-based emissions were about 19,713,000 kg CO2e.
• 2015: Scope 1 emissions were approximately 4,758,000 kg CO2e. Scope 2 market-based emissions totalled about 27,734,000 kg CO2e.
• 2014: Scope 1 emissions were approximately 5,756,000 kg CO2e. Scope 2 location-based emissions were about 33,165,000 kg CO2e.

Climate Commitments and Reduction Targets:

Blackrock has set several climate-related targets:

• Near-Term Targets:
  • A target to achieve near-zero Scope 2 emissions by 2025.
  • A target to achieve near-zero Scope 1 emissions by 2025.
  • A goal to reduce Scope 1 emissions by 20% from a 2019 baseline by 2025.
  • A goal to reduce Scope 2 emissions by 20% from a 2019 baseline by 2025.
• Long-Term Targets:
  • A commitment to achieve net zero emissions across its operations by 2030.
  • A target to achieve a 67% reduction of Scope 1 and 2 emissions by 2030 from a 2019 baseline.
  • The BlackRock Foundation committed $100 million to accelerate the development of climate solutions necessary to achieve net zero emissions by 2050.

Blackrock has enhanced its processes for sourcing high-quality removal credits, including establishing an internal procurement standard and strengthening due diligence. The company's emissions data is not cascaded from a parent organization.