BLACKROCK INVESTMENT INSTITUTE
Mega forces: An investment opportunity
Mega forces are big, structural changes that affect investing now - and far in the future. This creates major opportunities - and risks - for investors.
BLACKROCK SUSTAINABILITY
Skip to content
Welcome to BlackRock Corporate site
Before we proceed, please take a moment to review and accept the following terms and Conditions:
Please read this page before proceeding as it explains certain restrictions imposed by law on the distribution of this information and the jurisdictions in which our products and services are authorised to be offered or sold.
By entering this site, you are agreeing that you have reviewed and agreed to the terms contained herein, including any legal or regulatory restrictions, and have consented to the collection, use and disclosure of your personal data as set out in the Privacy section referred to below.
By confirming below, you also acknowledge that you:
(i) have read this important information;
(ii) agree your access to this website is subject to the disclaimer, risk warnings and other information set out herein; and
(iii) are the relevant sophistication level and/or type of audience intended for your respective country or jurisdiction identified below.
The information contained on this website (this “Website”) (including without limitation the information, functions and documents posted herein (together, the “Contents”) is made available for informational purposes only.
No Offer
The Contents have been prepared without regard to the investment objectives, financial situation, or means of any person or entity, and the Website is not soliciting any action based upon them.
This material should not be construed as investment advice or a recommendation or an offer or solicitation to buy or sell securities and does not constitute an offer or solicitation in any jurisdiction where or to any persons to whom it would be unauthorized or unlawful to do so.
Access Subject to Local Restrictions
The Website is intended for the following audiences in each respective country or region: In the U.S.: public distribution. In Canada: public distribution. In the UK and outside the EEA: professional clients (as defined by the Financial Conduct Authority or MiFID Rules) and qualified investors only and should not be relied upon by any other persons. In the EEA, professional clients, qualified clients, and qualified investors. For qualified investors in Switzerland, qualified investors as defined in the Swiss Collective Investment Schemes Act of 23 June 2006, as amended. In DIFC: 'Professional Clients’ and no other person should rely upon the information contained within it. In Singapore, public distribution. In Hong Kong, public distribution. In South Korea, Qualified Professional Investors (as defined in the Financial Investment Services and Capital Market Act and its sub-regulations). In Taiwan, Professional Investors. In Japan, Professional Investors only (Professional Investor is defined in Financial Instruments and Exchange Act). In Australia, public distribution. In China, this may not be distributed to individuals resident in the People's Republic of China ("PRC", for such purposes, excluding Hong Kong, Macau and Taiwan) or entities registered in the PRC unless such parties have received all the required PRC government approvals to participate in any investment or receive any investment advisory or investment management services. For Other APAC Countries, Institutional Investors only (or professional/sophisticated /qualified investors, as such term may apply in local jurisdictions). In Latin America, institutional investors and financial intermediaries only (not for public distribution).In Latin America, no securities regulator within Latin America has confirmed the accuracy of any information contained herein. The provision of investment management and investment advisory services is a regulated activity in Mexico thus is subject to strict rules. For more information on the Investment Advisory Services offered by BlackRock Mexico please refer to the Investment Services Guide available at www.blackrock.com/mx.
This Contents are not intended for, or directed to, persons in any countries or jurisdictions that are not enumerated above, or to an audience other than as specified above.
This Website has not been, and will not be submitted to become, approved/verified by, or registered with, any relevant government authorities under the local laws. This Website is not intended for and should not be accessed by persons located or resident in any jurisdiction where (by reason of that person's nationality, domicile, residence or otherwise) the publication or availability of this Website is prohibited or contrary to local law or regulation or would subject any BlackRock entity to any registration or licensing requirements in such jurisdiction.
It is your responsibility to be aware of, to obtain all relevant regulatory approvals, licenses, verifications and/or registrations under, and to observe all applicable laws and regulations of any relevant jurisdiction in connection with your access. If you are unsure about the meaning of any of the information provided, please consult your financial or other professional adviser.
No Warranty
The Contents are published in good faith but no advice, representation or warranty, express or implied, is made by BlackRock or by any person as to its adequacy, accuracy, completeness, reasonableness or that it is fit for your particular purpose, and it should not be relied on as such. The Contents do not purport to be complete and is subject to change. You acknowledge that certain information contained in this Website supplied by third parties may be incorrect or incomplete, and such information is provided on an "AS IS" basis. We reserve the right to change, modify, add, or delete, any content and the terms of use of this Website without notice. Users are advised to periodically review the contents of this Website to be familiar with any modifications. The Website has not made, and expressly disclaims, any representations with respect to any forward-looking statements. By their nature, forward-looking statements are subject to numerous assumptions, risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future.
No information on this Website constitutes business, financial, investment, trading, tax, legal, regulatory, accounting or any other advice. If you are unsure about the meaning of any information provided, please consult your financial or other professional adviser.
No Liability
BlackRock shall have no liability for any loss or damage arising in connection with this Website or out of the use, inability to use or reliance on the Contents by any person, including without limitation, any loss of profit or any other damage, direct or consequential, regardless of whether they arise from contractual or tort (including negligence) or whether BlackRock has foreseen such possibility, except where such exclusion or limitation contravenes the applicable law.
You may leave this Website when you access certain links on this Website. BlackRock has not examined any of these websites and does not assume any responsibility for the contents of such websites nor the services, products or items offered through such websites.
Intellectual Property Rights
Copyright, trademark and other forms of proprietary rights protect the Contents of this Website. All Contents are owned or controlled by BlackRock or the party credited as the provider of the Content. Except as expressly provided herein, nothing in this Website should be considered as granting any licence or right under any copyright, patent or trademark or other intellectual property rights of BlackRock or any third party.
This Website is for your personal use. As a user, you must not sell, copy, publish, distribute, transfer, modify, display, reproduce, and/or create any derivative works from the information or software on this Website. You must not redeliver any of the pages, text, images, or content of this Website using "framing" or similar technology. Systematic retrieval of content from this Website to create or compile, directly or indirectly, a collection, compilation, database or directory (whether through robots, spiders, automatic devices or manual processes) or creating links to this Website is strictly prohibited. You acknowledge that you have no right to use the content of this Website in any other manner.
Additional Information
Investment involves risks. Past performance is not a guide to future performance. The value of investments and the income from them can fall as well as rise and is not guaranteed. You may not get back the amount originally invested. Changes in the rates of exchange between currencies may cause the value of investments to diminish or increase.
Privacy
Your name, email address and other personal details will be processed in accordance with BlackRock’s Privacy Policy for your specific country which you may read by accessing our website at https://www.blackrock.com.
Please note that you are required to read and accept the terms of our Privacy Policy before you are able to access our websites.
Once you have confirmed that you agree to the legal information herein, and the Privacy Policy – by indicating your consent – we will place a cookie on your computer to recognise you and prevent this page from reappearing should you access this site, or other BlackRock sites, on future occasions. The cookie will expire after six months, or sooner should there be a material change to this important information.
BlackRock has been a signatory to the United Nations supported Principles for Responsible Investment (PRI) since 2008. The PRI is an independent nonprofit that encourages investors to use responsible investment to enhance returns and better manage risks. For more information see the About PRI page of the organization’s website.
As a signatory, BlackRock has committed to the annual effort of supporting PRI’s aspirational and voluntary principles, where consistent with our fiduciary duties.
1. We will incorporate ESG issues into investment analysis and decision-making processes.
2. We will be active owners and incorporate ESG issues into our ownership policies and practices.
3. We will seek appropriate disclosure on ESG issues by the entities in which we invest.
4. We will promote acceptance and implementation of the Principles within the investment industry.
5. We will work together to enhance our effectiveness in implementing the Principles.
6. We will each report on our activities and progress towards implementing the Principles.
2021 Highlights
Assessment Context
PRI introduced a significantly redesigned Pilot Reporting Framework for the 2021 reporting cycle, which impacted the scoring system and several modules of the assessment. PRI provides an overview of the methodology changes here. PRI’s 2021 assessment methodology for investors can be found here and its investor reporting guidance can be found here.
The new Pilot Reporting Framework methodology introduced a significant change to the grading system from an alphabetical (A+ to E) system to a numerical (1 to 5 stars) system, such that the 2021 reporting cycle cannot be compared to previous years. See PRI’s methodology changes PowerPoint here for further information on the new scale. Among other changes, the new methodology also replaced the firm level “Strategy & Governance” score used in 2020 with a new “Investment & Stewardship Policy” module and introduced modules for “Hedge Funds” and for “Voting” across asset classes.
In 2021, PRI also piloted a new online reporting tool for signatories to submit data for the annual assessment reports. Following issues encountered by signatories in completing the new Pilot Reporting Framework, the release of the 2021 reports was pushed from mid-year 2021 to June, 2022 (PRI memo here). The final reports were released in early September 2022 approximately 15 months after data was submitted.
2021 Assessment Report Results
BlackRock’s 2021 Assessment Report reflects the 2020 reporting period.
- Across almost all modules, BlackRock scored either 5 or 4 stars.
- Although the firm performed the least well across Hedge Funds modules (2-4 stars), which are notably the newest modules within the Pilot Reporting Framework, the achieved scores were well above the median.
- BlackRock received 4 stars with a score of 88% in the Investment and Stewardship Policy module with 22 out of 30 sub-indicators in this module receiving a top score.
- The firm scored very well (5 stars) across the Active Equity modules (Active Quantitative, Active Fundamental) and the Private Markets modules (Private Debt, Private Equity, Real Estate, Infrastructure) with a notable 100% score on Infrastructure.
- The firm also performed well across the fixed income modules (4 stars).
Please refer to our full Transparency Report and Assessment Report for additional information.
2021 BlackRock Assessment Report
2021 BlackRock Transparency Report Part 1
2021 BlackRock Transparency Report Part 2
The table below summarizes BlackRock’s 2021 PRI Assessment Scores:
| 2021 BLK Stars (1-5) |
2021 BLK Score (0-100%) |
2021 Median | Delta | |||||
|---|---|---|---|---|---|---|---|---|
| Investment & Stewardship Policy | 4 | 88% | 60% | +28 | ||||
| Managed by BlackRock | ||||||||
| Listed Equity – Active quantitative | 5 | 96% | 65% | +31 | ||||
| Listed Equity – Active fundamental | 5 | 96% | 71% | +25 | ||||
| Listed Equity – Investment trusts | 5 | 96% | 66% | +30 | ||||
| Listed Equity – Passive – Incorporation | 4 | 67% | 35% | +32 | ||||
| Listed Equity – Active quantitative - Voting | 4 | 83% | 61% | +22 | ||||
| Listed Equity – Active fundamental- Voting | 4 | 83% | 54% | +29 | ||||
| Listed Equity – Investment Trusts- Voting | 4 | 83% | 60% | +23 | ||||
| Listed Equity – Other- Voting | 4 | 83% | 58% | +25 | ||||
| Listed Equity – Passive - Incorporation- Voting | 4 | 83% | 57% | +26 | ||||
| Fixed Income – SSA | 4 | 79% | 50% | +29 | ||||
| Fixed Income- Corporate | 4 | 88% | 62% | +26 | ||||
| Fixed Income – Securitized | 4 | 76% | 55% | +21 | ||||
| Fixed Income – Private Debt | 5 | 96% | 67% | +29 | ||||
| Private Equity | 5 | 93% | 66% | +27 | ||||
| Real Estate | 5 | 98% | 69% | +29 | ||||
| Infrastructure | 5 | 100% | 77% | +23 | ||||
| Hedge Funds – Long/short equity - incorporation | 4 | 66% | 57% | +9 | ||||
| Hedge Funds – Long/short equity – Voting | 4 | 77% | 0% | +77 | ||||
| Hedge Funds – Long/short credit | 3 | 59% | 29% | +30 | ||||
| Hedge Funds – Distressed, special situations, and event driven fundamental | 3 | 59% | 0% | +59 | ||||
| Hedge funds – Other | 2 | 35% | 9% | +26 | ||||
| Advisory | ||||||||
| Listed Equity – Passive | 4 | 69% | 57% | +12 | ||||
| Listed Equity – Active | 4 | 84% | 67% | +17 | ||||
| Fixed Income – Passive | 4 | 69% | 43% | +26 | ||||
| Fixed Income – Active | 4 | 84% | 57% | +27 | ||||
| Private Equity | 5 | 91% | 63% | +28 | ||||
| Real Estate | 4 | 89% | 62% | +27 | ||||
| Infrastructure | 5 | 91% | 71% | +20 | ||||
| Hedge Funds | 4 | 89% | 34% | +55 | ||||
Source: PRI Data Portal, as of 9/9/2022
PRI provides an overview of the methodology changes here. PRI’s 2021 assessment methodology for investors can be found here and its investor reporting guidance can be found here.
2020 Highlights
- BlackRock earned an A+ Strategy & Governance score, reflecting the strength of our overall sustainable investing and ESG integration programs. The median score for large asset managers was A.
- BlackRock Investment Stewardship (BIS) earned an A+ for Listed Equity Active Ownership. This stands out from the median score of B for large asset managers.
- BlackRock improved its score across direct investment practice areas with A+ earned in Listed Equity (Incorporation and Active Ownership), Fixed Income (SSA, Corporate Financial, Corporate non-Financial), Private Equity, Property and Infrastructure. BlackRock investment teams have dedicated significant resources in recent years to integrate ESG into investment practices and communicate their efforts clearly.
- BlackRock continues to increase transparency and report on new practice areas. In 2020 we reported our infrastructure solutions activities for the first time and received an A+.
Please refer to our full 2019 and 2020 Transparency Report and Assessment Report for additional information.
| 2020 BlackRock Transparency Report | 2019 BlackRock Transparency Report |
| 2020 BlackRock Assessment Report | 2019 BlackRock Assessment Report |
Below is BlackRock’s 2020 PRI assessment report card:
| 2019 BLK Score | 2020 BLK Score | 2020 Median | ||||
|---|---|---|---|---|---|---|
| Strategy & Governance | A+ | A+ | A | |||
| Managed by BlackRock | ||||||
| Listed Equity Incorporation | A | A+ | A | |||
| Listed Equity Active Ownership | A+ | A+ | B | |||
| Fixed Income SSA | A | A+ | B | |||
| Fixed Income Corporate Financial | A | A+ | B | |||
| Fixed Income Corporate Non-Financial | A | A+ | B | |||
| Fixed Income Securitized | B | A | B | |||
| Private Equity | A | A+ | A | |||
| Property | A | A+ | B | |||
| Infrastructure | A | A+ | A | |||
| Advisory | ||||||
| Listed Equity | A | A | A | |||
| Fixed Income SSA | A | A | B | |||
| Fixed Income Corporate Financial | A | A | A | |||
| Fixed Income Corporate Non-Financial | A | A | A | |||
| Fixed Income Securitized | A | A | A | |||
| Private Equity | A | A+ | A | |||
| Infrastructure | A+ | A | ||||
Source: PRI Data Portal, as of 8/31/2020
More information on the assessment methodology can be found on PRI’s website, “How investors are assessed on their reporting,” and a companion document explaining the assessment of each indicator. Whether we receive strong or improving scores, we are committed to developing our ESG integration capabilities, and we work continuously to enhance our existing programs.
Ratings, rankings and awards shown herein may not be indicative of BlackRock’s investment performance, or any future investment performance or sustainability accomplishments. BlackRock has sourced these ratings, rankings and awards from third party providers. We have not solicited or paid for any of these ratings, rankings and awards. The rating, ranking or award may not be representative of any client’s individual experience.
The information and opinions contained herein are derived from third party sources deemed by BlackRock to be reliable, but are not necessarily all inclusive and are not guaranteed as to accuracy or completeness. No part of this material may be reproduced without the prior written consent of BlackRock.
Explore more
About Us
Newsroom
Insights
Investor Relations
Corporate sustainability
-
BLACKROCK SUSTAINABILITY
© 2024 BlackRock, Inc. All rights reserved.