Two New York Men Charged With Three Gunpoint Robberies And With Conspiracy To Commit Robberies In New Jersey, New York And Pennsylvania

 

 Two Brooklyn, New York men are charged with three gunpoint robberies of check cashing locations in different parts of New Jersey in 2021 and 2022 and with conspiracy to commit robberies in New Jersey, New York and Pennsylvania, U.S. Attorney Philip R. Sellinger announced.

Ramel Harris, 40, of Brooklyn, and Neville Brown, 38, of Brooklyn, are charged by complaint with one count of Conspiracy to Commit Hobbs Act Robbery, three counts of Hobbs Act Robbery, and one count of Using, Carrying, and Brandishing a Firearm During and in Relation to a Crime of Violence.  Harris and Brown each made their initial appearance on September 6, 2022 before U.S. Magistrate Judge James B. Clark, III in Newark federal court and were detained.

According to documents filed in this case and statements made in court:

On several dates between January 2021 and January 2022, two individuals, later identified as Harris and Brown, attempted to rob a check cashing location in Nanuet, New York, and thereafter successfully robbed three check cashing locations in different parts of New Jersey while brandishing a firearm and using zip ties to restrain female employees at each location.  During those robberies, Harris and Brown stole over $578,00.00.     

During the subsequent investigation, law enforcement learned that the conspirators surveilled check cashing locations in the following locations: Mount Kisco, New York, Allentown, Pennsylvania and West Chester, Pennsylvania.  Law enforcement collected an extensive amount of video surveillance footage that ultimately linked Harris and Brown to the robberies.    

The Hobbs Act Robbery and Conspiracy to Commit Hobbs Act Robbery counts each carry a maximum potential penalty of 20 years in prison.  The brandishing of a firearm during a crime of violence count carries a maximum potential penalty of life in prison and a mandatory minimum sentence of seven years in prison, which must run consecutive to any other term of imprisonment imposed.  Each count also carries a fine of up to $250,000 fine, or twice the gain or loss from the offenses, whichever is greatest.

U.S. Attorney Sellinger credited members of the FBI’s New Jersey field office, under the direction of Special Agent in Charge James E. Dennehy; members of the FBI’s New York field office, under the leadership of Assistant Director In Charge Michael J. Driscoll; members of the FBI’s Philadelphia field office, under the leadership of Special Agent in Charge Jacqueline Maguire; members of the Hackettstown Police Department, under the direction of Police Chief James Macaulay; members of the Old Bridge Police Department, under the leadership of Acting Chief of Police Donald F. Fritz, Jr.; members of the Parsippany-Troy Hills Police Department, under the leadership of Police Chief Richard Pantina; members of the Morris County Prosecutor’s Office, under the leadership of Prosecutor Robert J. Carroll; members of the Clarkstown Police Department, under the leadership of Police Chief Jeffrey Wanamaker; members of the Westchester County (New York) Department of Public Safety; and members of the Borough of West Chester (Pennsylvania) Police Department, with the investigation leading to the charges.

The charges and allegations contained in the complaint are merely accusations, and the defendants are presumed innocent unless and until proven guilty.

Council Member Marjorie Velázquez - Supporting Our Neighbors in Puerto Rico

 

Dear Neighbors,

When I woke up on Monday, I did not know what to think or how to feel. The devastation in Puerto Rico from Hurricane Fiona has not left my mind for even a second. For many, this feeling is all too familiar, leading to flashbacks of Hurricane Maria in 2017. I have only recently heard from my family since Hurricane Fiona made landfall, and I know many of you are having a similar experience. However, this time is different because I am not taking ‘no’ for an answer, and I am joining partners from various levels of government to support Puerto Rico. We cannot allow our fellow Americans to continue to be neglected, especially in moments like this.

In order to support our Puerto Rican neighbors, my office has partnered with Diaspora for Puerto Rico, a local organization in New York City with partners and volunteers across Puerto Rico. Many resources sent o the island are often allocated to higher-density tourist areas such as San Juan, Rincon, and other coastal cities. Diaspora is committee to having volunteers on the ground to distribute supplies to even the most remote areas, including the western and central regions on the island. Through their work, we will not only save lives but also support our most vulnerable populations.

For those wondering, the electric grid and infrastructure in Puerto Rico are outdated, leaving millions of people without electricity and running water. If you would like to donate to Diaspora for Puerto Rico, please click here. If you would like to donate or purchase an item from their Amazon Wish List, please click here. The Amazon Wish List offers access to solar panels to support the communities suffering from power loss. You can also drop off donations at my office, Monday to Friday between 9 AM and 5 PM. All donations are appreciated, and we look forward to supporting and uplifting our Puerto Rican community and neighbors.

If you or someone you know has been directly impacted by Hurricane Fiona and is in need of assistance, please contact Diaspora for Puerto Rico directly at: www.diasporaxpuertorico.org

Sincerely,

Council Member Marjorie Velázquez

Governor Hochul Invites New Yorkers and Visitors to Fish For Free Saturday, September 24

 Anglers of All Skill Levels Encouraged To Cast a Line, Experience Benefits of Freshwater Fishing for Free

 Governor Kathy Hochul today announced Saturday, September 24 as a Free Fishing Day in New York State. This free freshwater fishing day is one of six held annually and coincides with National Hunting and Fishing Day, which is celebrated to promote outdoor activities that are significant contributors to New York's economy and help support fish and wildlife conservation.

"From Babylon to Buffalo, Free Fishing Days are a great opportunity for New Yorkers to enjoy the outdoors at one of New York State's many world-class fishing locations," Governor Hochul said. "I encourage everyone to take advantage of this weekend's Free Fishing Day, support New York's local economy, and see the benefits of our extensive conservation efforts to protect and enhance our natural resources."

On Free Fishing Days, New York residents and non-residents may fish New York's fresh waters for free without a fishing license. Free Fishing Day participants are reminded that, although the requirement for a fishing license is waived, all other fishing regulations remain in effect. The sixth and last Free Fishing Day of 2022 is on Veterans Day, Nov. 11, 2022.

New York State Department of Environmental Conservation Commissioner Basil Seggos said, "DEC is thrilled to support Free Fishing Days throughout the year to help introduce people to the sport of fishing. Along with other improvements like our new Tackle Box feature on the HuntFishNY smartphone app, DEC continues to work to make fishing more accessible for local anglers of all skill levels to enjoy the excellent fishing in lakes, ponds, rivers, and streams in every region."

Earlier this summer, DEC launched the new 'Tackle Box' feature to enhance fishing-related tourism and help new and experienced anglers enjoy the great fishing offered throughout New York. The Tackle Box feature is available on DEC's HuntFishNY smartphone app, (available for iOS and Android) which provides information on nearly all State fishing regulations, waterbodies, State-operated fishing access sites, stocking information, and other useful features like photos to help identify fish likely found in a certain river, lake, or stream. More information on the HuntFishNY Mobile app can be found on DEC's website.

DEC's Places to Fish webpages are also a reliable source for those ready to plan their next fishing trip. For beginning anglers interested in getting started, the I FISH NY Beginners' Guide to Freshwater Fishing provides information on everything from rigging up a fishing rod to identifying catch and understanding fishing regulations.

When not participating in Free Fishing Days, anglers 16 years of age and older must have a current New York State fishing license to fish in fresh water. Fishing licenses are valid for 365 days from the date of purchase. More information on purchasing a freshwater fishing license can be found on DEC's website. Information about the required, no-fee Recreational Marine Fishing Registry for saltwater fishing can be found here.

New Yorkers can learn more about purchasing a license and get more information about freshwater fishing here. Additionally, information about saltwater fishing can be found here.

NYS Office of the Comptroller DiNapoli: New Yorkers' Debt on the Rise

New York Has Fourth Highest Household Debt in Nation The average household debt in New York climbed to a new high of $53,830 at the end of 2021. While New Yorkers trail the national average debt burden ($55,810), student loan and credit card debt per capita were well above the national average, with student loan balances 335% higher than they were in 2003, according to a report released today by State Comptroller Thomas P. DiNapoli. “Households across the nation have record levels of debt, after a temporary decline at the onset of the pandemic in 2020. We’re seeing debt rise for New Yorkers with student loans, mortgages and credit cards,” DiNapoli said. “Borrowing can help individuals achieve their personal and financial goals, but high levels of debt can cause damaging long-term consequences. I urge policymakers to improve access for individuals and families to financial education resources, so they are better prepared to build a stronger financial future.” At the end of 2021, national household debt totaled $15.6 trillion with New York households accounting for $869.4 billion, or 5.6%, of the national total, ranking New York fourth in the nation after California, Texas and Florida. Debt has increased 4% nationally and 2% in New York in the first two quarters of 2022 and is now the highest on record, exceeding previous highs from 2008. For both New York and the nation, mortgage debt made up the vast majority of household debt, at $601.2 billion (69.2%) and $10.9 trillion (70.2%), respectively. New York fares better than the nation and peer states (California, Florida, Texas, Illinois and Pennsylvania) on per capita consumer debt in relation to the average personal income level in the state. On that measure, New Yorkers have a debt ratio of 57% compared to 73% for the United States as a whole. However, DiNapoli’s report found per capita debt in New York differs in notable ways from the national profile: mortgages and auto loan debt are lower, while credit card and student loan debt are higher. New York’s per capita credit card debt was $3,520 in 2021, seventh in the nation, and credit card balances were a larger share of per capita household debt in New York (7%) than nationally (5.5%). Credit card debt typically has substantially higher interest rates than other types of household debt and can be indicative of financial stress when used for routine expenses. New York’s per capita student loan balance was $6,180 in 2021, 11th in the nation, representing growth of 335% from 2003. The high growth rate was less than the national average (432%) and peer states (448%). DiNapoli said President Biden’s new student loan forgiveness program should help New Yorkers struggling with student loan debt. New York’s delinquency rate of 2.1% for consumer debt also exceeds the national average of 1.9%, but is lower than it was before the pandemic (3.8%). Credit card debt had the highest share of delinquent accounts at 8.9% in 2021. The delinquency rate of 0.9% for mortgage loans is highest in the peer group and nearly double the 0.5% national rate. This report is a part of DiNapoli’s ongoing financial literacy initiative. In 2019, DiNapoli signed an executive order recognizing the need for more robust financial education in the state and providing New Yorkers with more tools to manage their finances. The report uses data on consumers with a credit report from the Federal Reserve Bank of New York to examine household debt in relation to the national average and large peer states. Report Household Debt in New York State

 

MAYOR ADAMS, SBS ANNOUNCE NYC SURPASSES TARGET, AHEAD OF SCHEDULE TO AWARD $25 BILLION IN CONTRACTS TO M/WBES

 

2022 Annual Procurement Fair Held at Barclays Center Marks 30^th Anniversary of New York City’s M/WBE Program and Supports Mayor’s ‘Blueprint for Economic Recovery,’ Offering Contract Opportunities to Small Businesses Certified as M/WBEs

New York City Mayor Eric Adams and New York City Department of Small Business Services (SBS) Commissioner Kevin D. Kim today announced that the city has surpassed its 10-year OneNYC goal to award $25 billion in contracts to minority- and women-owned business enterprises (M/WBE) by Fiscal Year (FY) 2025 — three years ahead of schedule. This achievement comes amid a strong focus on expanding the pool of contracts subject to the M/WBE program and creating more opportunities for M/WBEs to win procurements.

 

“Economic inequality isn’t going to solve itself, and as mayor, I am committed to expanding opportunities by building economic on-ramps for our minority- and women-owned business owners,” said Mayor Adams. “We are creating jobs and improving the way government provides services to New Yorkers, and I am thrilled that we have achieved the city’s 10-year goal of awarding $25 billion in contracts to M/WBEs three years ahead of schedule. These billions of dollars will build equity, boost recovery, and create opportunity for M/WBEs. This is how we ‘Get Stuff Done’ and fight inequality right here in our own city.”

 

“In meeting the city’s goal of $25 billion in contracts to minority and women-owned business enterprises three years ahead of schedule, New York City has demonstrated its commitment to tackling income inequality and promoting fairness in economic opportunity and we know we have to go even further,” said Deputy Mayor for Economic and Workforce Development Maria Torres Springer. “As New York City continues its economic recovery, we remain laser-focused on ensuring M/WBEs can succeed in doing business with the city. Today’s procurement fair will connect hundreds of M/WBE firms with city agency staff and has the potential to result in tens of millions of dollars in contracts for companies that have been unfairly overlooked in years past. We are proud of the progress we have made and continue to do the work to create more opportunities for M/WBEs.”

 

“The city’s annual procurement fair is the perfect opportunity for entrepreneurs certified as M/WBE to come and tap into the contracting opportunities available to them with the City of New York,” said SBS Commissioner Kim. “With dozens of city agencies and hundreds of businesses ready to work, this fair will result in millions of dollars in contracts for minority and women-owned businesses. SBS is proud to put this event together and excited to be at the Barclays Center with Mayor Adams.” 

 

“As we collectively work our way towards a full economic recovery, this year’s procurement fair symbolizes our city’s resilience and ability to meet almost any challenge,” said Johnny Celestin, deputy director of operations, New York City Mayor’s Office of Minority- and Women-Owned Business Enterprises. “Our city’s M/WBEs embody that resilience, and the procurement fair is an excellent opportunity to connect certified M/WBEs with the many opportunities to contract with the city. These opportunities result in billions of dollars going directly to M/WBEs, creating jobs and growing the local economies where they work. We are proud to celebrate our program’s 30^th anniversary and look forward to building on its strong foundation.”

 

“The future of New York City M/WBEs is contingent upon our efforts to support, elevate, and fortify our city’s business community,” said New York City Mayor’s Office of Contract Services Director and New York City Chief Procurement Officer Lisa Flores. “The procurement fair provides us with the crucial opportunity to connect business and agency leaders to discuss ways to streamline procurement by eliminating unnecessary processes and adapting our system to meet the current needs of the community. Investing time and money into these businesses will elevate the lives of New Yorkers across the five boroughs, lifting our economy along with them.”

 

“We are honored to be hosting the 2022 procurement fair at Barclays Center,” said Clara Wu Tsai, founder, Social Justice Fund. “Our arena’s business diversity program is a priority for us and has been a great vehicle for recruiting M/WBE vendors. We are big believers in the transformative impact that this procurement fair can have on economic mobility for individuals, businesses, and communities. In fact, Barclays Center, the Brooklyn Nets, and New York Liberty are represented in full force as enthusiastic contractors looking to do business with the entrepreneurs here today.”

 

New York City’s M/WBE program was created to address the disparity between city contracts awarded to certain ethnic and gender groups as compared to their availability in the relevant marketplace. New York City believes that contractors should reflect the diversity of our city, and that diversity provides opportunities for all of our communities, helps spark innovation, strengthens engagement, and drives continuous improvement.

 

In total, city agencies and authorities awarded more than $6 billion dollars to M/WBEs in FY22 — an increase of approximately 50 percent compared to FY21. This included approximately $1.4 billion dollars in FY22 contract awards under Local Law 1, which governs the city’s M/WBE program. This marked an increase of 18 percent compared to FY21.

 

Meanwhile, the city continues to surpass its annual goals to certify and recertify M/WBEs, reaching 10,768 certified firms at the close of FY22. Furthermore, 1,605 individual M/WBE firms were awarded a contract in FY22, up from 1,416 in FY21 — a 13 percent increase.

 

The city is set to have an even more impressive year in FY23, with a handful of major legislative reforms and new programs introduced over the last year:

• The new M/WBE-only pre-qualified list (PQL) at New York City’s Department of Design and Construction.
• Expanded curricula and access to a larger city pipeline for ConstructNYC — a training and technical assistance program that readies small-to-midsized M/WBEs in the construction trades to bid on city capital projects.
• SBS has established an M/WBE Mentors program, the first peer mentorship program for New York City’s M/WBEs.
• Important reforms to PASSport to increase transparency, better track M/WBE spending, and increase compliance with M/WBE subcontracting requirements.
• The New York City Economic Development Corporation, the New York City Department of Housing Preservation and Development, the New York City Police Department, and the New York City Housing Authority have developed M/WBE-prioritized PQLs to provide more opportunities to M/WBEs that can deliver the goods and services the city needs.
• New York State Bill A10459/S09351 passed in Albany to raise the M/WBE discretionary cap from $500,000 to 1,000,000. The city has made significant progress leveraging this contracting method, with total award values rising from $12 million in FY18 to $109 million in FY22. The passage of the recent legislation — which is expected to be signed by Governor Hochul — will be implemented within the city, further increasing the value of awards to M/WBEs even more rapidly in the years to come.

 

Hosted at the Barclays Center, New York City’s Annual M/WBE Procurement Fair was attended by more than 1,500 city-certified minority- and women-owned businesses, and over 80 city and state agencies, public authorities, and prime vendors.

 

This year is the 30^th anniversary of New York City’s M/WBE program, an initiative created under Mayor David Dinkins, the city’s first Black mayor, in 1992.

 

New York City has made a commitment to use its enormous purchasing power to support M/WBEs. The annual procurement fair demonstrates that commitment and the many opportunities that exist in contracting with the City of New York. The fair also works to connect potential buyers and useful services with the right agencies.

 

Firms interested in starting the M/WBE certification process or participating in M/WBE programming can learn more by calling 311, visiting nyc.gov/getcertified, or visiting one of the city’s seven New York City Business Solutions Centers located in all five boroughs.

 

New York City Council Releases New Report on City Employee Pay Equity, Legislation to Address Disparities

 

Council’s 2022 Pay Equity Report finds pay inequities remain, particularly among women, Black and Latino municipal workers

Speaker Adrienne Adams and the New York City Council today released its annual report on pay inequities within New York City’s municipal workforce, showing continued inequities. In conjunction with the release of the 2022 Pay Equity report, the Council also is holding a hearing on pay inequities in the City’s workforce and legislation to address them.

The 2022 report reveals two persistent, large pay gaps in the City’s municipal workforce – one between Black, Latino, and white employees, and another between male and female employees. The data confirms non-white employees and female employees predominantly occupy civil service titles with the lowest median salaries, and the same groups represent a much smaller proportion of employees who occupy civil service titles with the highest median salaries. This produces an ‘occupational segregation’ that results in pay disparities.

• Female municipal employees on average make 73 cents for every dollar made by male employees;
• Black city workers on average make 71 cents to every dollar for white employees;
• Latino workers on average make 75 cents to every dollar for white employees; and
• Asian employees on average make 85 cents to every dollar for white employees.

Furthermore, pay inequity is particularly higher among non-white female employees. Black and Latino women municipal employees make 69 cents to every dollar made by white male employees, and Asian women city workers make 82 cents for every dollar made by white male city workers.

While a small but significant pay inequity can be observed within the same civil service titles (Black, Latino and Asian city workers earn about 99 cents on every dollar for white workers of the same civil service title), the pay inequity is most pronounced for non-white female employees.  for non-white female employees. While Black or African American male employees make 0.9% less than white male employees with the same title, Black or African American female employees and Hispanic or Latina female employees make even less—1.4 percent and 1.3 percent less, respectively.

The full report is available here.

“We have long been aware that, even within our municipal workforce, pay disparity exists along racial and gender lines,” said Speaker Adrienne Adams. “These pay inequities especially affect Black, Latina, and Asian women. As the most diverse and first women-majority Council, we will not rest until all New York City workers are valued equally with job salaries and opportunities for their contributions to our City regardless of gender or race.”

The pay equity report is the product of the Council’s innovative Pay Equity Law (Local Law 18 of 2019), which requires the Mayor’s Office of Data Analytics (MODA) to publicly report New York City municipal employee pay data publicly and provide the Council with direct access to the data to facilitate its own annual statistical analysis. It is the only such law of its kind in the City. The 2022 report builds on the analysis of the Council’s 2021 Pay Equity report.

The new legislation being heard at today’s hearing would require city agencies to include an analysis of compensation data and measures to address pay disparity and occupational segregation, as well as report on recruitment and retention efforts to expand diversity across city government. It would also amend the existing Pay Equity Law 18 of 2019 to require that agencies provide new categories of information to the Council for each City employee, expand the definition of ‘agency’ to capture more of the City workforce, and provide the Council with the pay and employment data year-round to provide more robust oversight over public municipal employee data. The three proposed bills will be heard at a Thursday oversight hearing of the Council’s Committees on Civil Service and Labor & Civil and Human Rights. Earlier this week, the Council announced legislation to improve the diversity, equity and inclusion practices at the Fire Department of the City of New York (FDNY).

The proposed legislation is as follows:

Introduction 515, sponsored by Speaker Adams, would require that the agencies include an analysis of compensation data and measures to address pay disparity and occupational segregation. The head of each agency would also be required to submit an annual report on the number of new full-time and part-time employees retained, promoted, terminated, or that resigned and their compensation. Finally, the bill would require the Equal Employment Practices Commission to conduct a comparable worth analysis annually and submit its findings to the Mayor and the Speaker of the Council.

Introduction 527, sponsored by Council Member De La Rosa, would require each city agency that requires applicants to take a civil service exam to report annually in order to evaluate and expand diverse recruitment and retention within City government. The bill would also require reporting on agency training programs to again evaluate recruitment efforts across City government. Finally, the bill streamlines existing requirements on the Department of Education’s responsibility as it pertains to the dissemination of information on civil service examinations to high school juniors and seniors.

Introduction 541, sponsored by Council Member Louis, would amend the existing Pay Equity Law by requiring the Department of Citywide Administrative Services to provide new categories of information to the Council for each City employee with respect to the reporting of employment data. This bill also expands the definition of agency to capture more of the City workforce. Finally, this bill will also provide the Council the pay and employment data year-round so the Council can provide more robust oversight over the Administration.

Comptroller Lander Sends Letter to BlackRock CEO Larry Fink Demanding Stronger Action Toward Net Zero Emissions Reduction Across Portfolio

 

Letter sent during Climate Week calls for BlackRock to better align their actions with their climate commitments, and their recognition that climate risk is financial risk.

Today, New York City Comptroller Brad Lander shared a letter to BlackRock, Inc. Chief Executive Officer Larry Fink to express growing concern that BlackRock’s investment actions do not align with its climate commitments, and to request immediate action by BlackRock to address these contradictions. The letter follows BlackRock’s response to the Attorneys General from Arizona, Nebraska, Kentucky, and 16 other states regarding the criticism of their ESG (environmental, social, and governance) policies.

 

BlackRock is the largest asset manager in the world, and the largest for three of the New York City pension funds (Teachers’ Retirement System, New York City Employees’ Retirement System and the Board of Education Retirement System), managing approximately $43 billion of their investments.

 

The three Systems have set a goal to reach net zero portfolios by 2040 and have taken significant steps to reach that goal. The letter states that the three NYC Funds climate commitments can only be met with the active support of their asset managers, starting with BlackRock.

 

In the letter, Comptroller Lander writes, “If we do not find a way to dramatically reduce carbon emissions in alignment with the Paris Agreement, the harm will not only be measured in lives lost and people displaced; it will also be measured in trillions of dollars lost in our collective portfolios.”

 

The letter requests swift action from BlackRock, and asks the company to:

1. Publish an implementation plan that makes clear BlackRock’s commitment to achieving net zero greenhouse gas emissions across its entire portfolio, with concrete steps that detail how it intends to reach science-based targets on a specific timeframe, and clear mechanisms to regularly report on Scopes 1, 2, and 3 emissions for all assets in BlackRock’s portfolio.
2. Provide a detailed approach to keeping fossil fuel reserves in the ground and phasing out high-emitting assets.
3. Support climate action through transparent corporate engagement that requires disclosure of climate-related lobbying, works to end lending and insurance for new fossil fuel supply projects, and pushes for science-based targets at portfolio companies.

Selected text of the letter is below. To read the letter in full, please click here.

 

“BlackRock has repeatedly and rightly recognized climate change as an investment risk. In your 2020 letter to CEOs, you name climate change as a “defining factor in companies’ long-term prospects,” and declared your “investment conviction that sustainability- and climate-integrated portfolios can provide better risk-adjusted returns to investors.” Your 2021 letter to CEOs committed to “supporting the goal of net zero greenhouse gas emissions by 2050 or sooner”—in line with BlackRock’s pledge as a signatory to the Net Zero Asset Managers Initiative (NZAMI)—and asked businesses to disclose how they are integrating their own net zero plans into their long-term business strategies.

 

“Unfortunately, despite these repeated proclamations, in its September 6 response to the attorneys general, BlackRock now abdicates responsibility for driving net zero alignment in its own portfolio by saying that it does not ask companies to set specific emissions targets, and that its participation in NZAMI does not mean BlackRock is setting or meeting any net zero targets. BlackRock even goes so far as to tout its continued investment in fossil fuels—without specific net zero targets or commitments or any plan for a phased transition away from the very investments that increase carbon emissions—as somehow a necessary part of a transition to a green economy. A net zero goal that is not backed by a firm commitment to follow through is at odds with the path our economy must take to limit global temperature rise below 1.5°, or even 2.0°C.

 

“The fundamental contradiction between BlackRock’s statements and actions is alarming. BlackRock cannot simultaneously declare that climate risk is a systemic financial risk and argue that BlackRock has no role in mitigating the risks that climate change poses to its investments by supporting decarbonization in the real economy. As a fiduciary cognizant of the risks of inaction, BlackRock must demonstrate a plan to use its position as the world’s largest asset manager, with all the corporate governance responsibilities that go along with that position, to move its portfolio companies to get their businesses in line with a net zero economy.”

…

 

“The Attorneys General from Arizona, Nebraska, Kentucky, and 16 other states who wrote to BlackRock on August 4, 2022, are waging a war of political distraction in the hopes of protecting the fossil fuel interests that have captured their states. We recognize the absurdity of Texas Comptroller Hegar’s recent directive to boycott BlackRock, which caters to short-sighted oil and gas interests, irresponsibly jeopardizes the returns of Texas pension funds, and potentially raises costs for Texas taxpayers. But political theater cannot and must not guide fiduciary actions.” 

…

“The scale of the climate crisis surpasses the ability of any one person, company, or country to address alone, and none of us will be spared its financial impacts. The global finance community has a critical role to play in addressing the climate crisis, and BlackRock, as the world’s largest asset manager, must begin to lead in deeds, not simply words. The fact that building and operating renewable energy has now become cheaper than burning fossil fuels is a testament to what the financial industry can achieve when it mobilizes its resources to address climate change. We must now take the next steps necessary to fulfill that potential and responsibility.”