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BlackRock coal move part of bigger shift

BlackRock’s decision to dump its investments in coal is part of a wider global surge in responsible investment, prompted in part by Australia’s latest bush fires, one New Zealand analyst says.

Tuesday, January 21st 2020, 12:58PM

The fund manager, one of the largest in the world, said it would cut more than US$500 million in thermal coal shares from its active portfolios.

It said it would put climate change at the centre of its investment strategy.

Chris Douglas, of MyFiduciary, said it was a significant announcement.

He said the Australian bush fires had prompted more discussion about climate change, which flowed through to sustainable investment and what investments people were exposed to.

He said people were starting to think that they needed to focus more on what they were doing directly and indirectly.

“BlackRock is huge – if it’s starting to move out of fossil fuels, what does that mean for the market? There’s a lot more to come in this space.”

Tags: funds management responsible investing Sustainability

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AIA 4.55 2.55 2.69 2.79
ANZ 4.44 ▼2.89 3.25 3.39
ANZ Special - ▼2.29 2.69 2.79
ASB Bank 4.45 ▼2.29 2.59 2.65
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - ▼2.29 ▼2.59 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 ▼2.89 ▼3.19 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
Lender Flt 1yr 2yr 3yr
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online 2.50 1.99 2.35 2.45
Heretaunga Building Society 4.99 3.50 3.40 -
HSBC Premier 4.49 2.25 2.35 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 3.69 2.45 2.45 2.65
Kainga Ora 4.43 2.93 3.07 3.24
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.40 ▼3.20 3.50 3.50
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 ▼2.35 2.65 2.65
Liberty 5.69 - - -
Nelson Building Society 4.95 3.20 3.24 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
Lender Flt 1yr 2yr 3yr
SBS Bank 4.54 2.99 3.09 3.15
SBS Bank Special - 2.49 2.59 2.65
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - - - -
The Co-operative Bank - Owner Occ 4.40 2.49 2.69 2.79
The Co-operative Bank - Standard 4.40 2.99 3.19 3.29
TSB Bank 5.34 ▼3.09 3.29 3.59
TSB Special 4.54 ▼2.29 2.49 2.79
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.09 3.29 3.39
Westpac - Offset 4.59 - - -
Lender Flt 1yr 2yr 3yr
Westpac Special - 2.29 2.69 2.79
Median 4.54 2.89 2.99 2.97

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