Environmental sustainability

BlackRock’s operational sustainability strategy is focused on reducing greenhouse gas ("GHG") emissions associated with its facilities and upstream supply chain and on expanding its use of market solutions such as renewable energy, sustainable aviation fuel (“SAF”) and carbon credits for the residual emissions the firm cannot fully reduce.

As the firm has grown through several acquisitions in 2024 and 2025, BlackRock has reviewed its GHG emissions reporting and operational science-aligned¹ emissions goals and set a new 2025 base year to reflect its expanded operational footprint.

The goals are as follows (relative to a 2025 base year):

i) 42% reduction of Scope 1 and 2 emissions² by 2030; and

ii) Engagement of suppliers representing 67% of the firm's emissions³ on the suppliers’ own science-aligned goals by 2030.

These goals are set with the intention of supporting the long-term success of BlackRock and its clients located around the world. This update of BlackRock’s goals and base year reflects that BlackRock today is a larger company operating in a different environment than when the previous base year and goals were originally established.

BlackRock’s goals build on existing progress against our operational sustainability strategy and reflect the firm’s current scale and future ambitions.

To support these goals, BlackRock will continue to use renewable energy and energy efficiency strategies for its operations and build on the progress of its Supplier Sustainability Program, which has continued to expand through BlackRock’s engagement and availability of support and resources for its suppliers. The firm also plans to increase its investment in renewable energy, SAF, and carbon credits. Efforts such as procurement of energy attribute certificates ("EACs") and physical SAF will help reduce the firm’s operational emissions, while SAF certificates ("SAFc") and carbon credits will address a portion of its remaining emissions⁴ that cannot otherwise be reduced and help scale emerging technologies.

BlackRock’s strategy is subject to change based on the needs of the firm and its stakeholders. These goals and BlackRock’s ability to make progress against them are also influenced by technological advancements, public policies, legal and regulatory obligations and market conditions outside the firm’s control. We regularly assess our approach to managing our footprint, taking into account these factors, and evolving our approach as appropriate.