BlackRock, Inc.
World's largest asset manager ($13.5 trillion AUM) holding major stakes in weapons manufacturers and settlement-linked enterprises supplying Israel. Named by UN Special Rapporteur as among the 'main investors' behind Israel's military economy.
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Named by UN Special Rapporteur Francesca Albanese (June 2025) as among 'main investors' behind companies complicit in Israel's 'economy of genocide.' UN experts (June 2024) warned financial institutions investing in arms companies could move from being 'directly linked to human rights abuses to contributing to them, with repercussions for complicity in potential atrocity crimes.'
ClientEarth filed greenwashing complaint with French AMF (October 2024) over 'sustainable' fund claims despite defence and fossil fuel investments. US campus protests at Columbia, UCLA, and dozens of universities specifically named BlackRock. CEO Larry Fink's vocal Israel support has drawn sustained criticism.
Subject to state-level divestment in Republican-led states over ESG policies while simultaneously facing progressive divestment demands over weapons investments. Malaysia controversy over MAHB airport deal demonstrated emerging market political risk.
ESG credibility gap between 'sustainable investing' claims and defence/settlement investments. Backed only 4% of ESG proposals in 2024, down from 20%+ previously. Staff recruitment challenges as younger workers prioritise ethical employers.
Strategic Analysis
In-depth assessment of the company's position, vulnerabilities, and recommended approaches for effective engagement.
High severity, lower vulnerability: requires long-term divestment pressure
- Severity
- 9.0/10
- Strategic vulnerability
- 5.5/10
Learn about our methodology. Companies are categorised based on severity (harm potential) vs strategic vulnerability (campaign leverage).
Why do these scores change?
Unlike static boycott lists, our targeting model is dynamic. This company's position on the matrix is re-evaluated continually as we verify new contracts, divestments, or policy changes. Your reporting directly impacts this score.
BlackRock represents the highest-value financial sector target globally due to its unprecedented scale ($13.5 trillion AUM) and its role as the largest institutional shareholder in companies enabling Israel's military operations and settlement enterprise. Named by UN Special Rapporteur Francesca Albanese (June 2025) as among the 'main investors' behind the 'economy of genocide,' BlackRock's exposure spans defence contractors, technology firms, and settlement-linked companies. The company's marketed commitment to ESG investing creates a documented hypocrisy gap that provides significant leverage for pressure campaigns.
Key Leverage Points
- Scale of Influence: As the world's largest asset manager, BlackRock's investment decisions shape corporate behaviour across thousands of companies. Holds 6-8% stakes in virtually every major defence contractor and settlement-linked enterprise, giving it board-level influence.
- ESG Credibility Gap: ClientEarth's October 2024 greenwashing complaint and BlackRock's subsequent modification of 'sustainable' fund labels demonstrates vulnerability on ESG claims. Only 4% of ESG proposals supported in 2024, down from 20%+ previously.
- Pension Fund Exposure: BlackRock manages assets for major public pension funds (CalPERS, CalSTRS, NYC pensions, UK local government schemes). These institutional clients have fiduciary duties and face beneficiary pressure on ethical investing.
- CEO Public Stance: Larry Fink's vocal Israel support and criticism of campus divestment protests personalises the issue and provides clear target for accountability campaigns.
- UN Documentation: Official UN Special Rapporteur naming (June 2025) and UN expert warnings on 'complicity in potential atrocity crimes' provide authoritative basis for legal and reputational pressure.
Evidence Summary
The evidence against BlackRock is comprehensive and authoritative. UN Special Rapporteur Francesca Albanese's June 2025 report 'From Economy of Occupation to Economy of Genocide' explicitly names BlackRock as among the 'main investors' behind companies complicit in Israel's genocide, including defence contractors Lockheed Martin (7.2% stake), Boeing, and Caterpillar (7.5%), and technology firms like Palantir (8.6%) that provide targeting systems to the Israeli military. BlackRock holds approximately $36 billion in the five largest US defence contractors whose weapons have been documented by Amnesty International in attacks on civilian infrastructure in Gaza.
The Who Profits Research Center documents BlackRock's stakes in settlement-linked companies including SolarEdge (8.05%), whose solar installations operate on Palestinian land in the Jordan Valley, and RE/MAX Holdings (7.61%), which markets properties in illegal West Bank settlements. These holdings directly contradict BlackRock's ESG marketing claims. In June 2024, UN human rights experts warned that financial institutions' investments in arms companies could escalate from being 'directly linked' to human rights abuses to 'contributing to them, with repercussions for complicity in potential atrocity crimes.'
Engagement Strategy
Focus on institutional pressure through pension fund divestment campaigns rather than individual consumer action. Target pension fund trustees and investment committees with UN documentation and fiduciary duty arguments. Coordinate shareholder advocacy demanding BlackRock vote against management of companies implicated in human rights violations. Leverage the ESG credibility gap by highlighting the contradiction between 'sustainable investing' marketing and defence/settlement investments. Support university divestment campaigns that specifically name BlackRock products in endowment portfolios. Frame messaging around authoritative sources (UN Special Rapporteur, ICJ, ICC) to maintain legal defensibility while maximising pressure. Build coalitions with environmental groups (leveraging ClientEarth complaint) and human rights organisations to create sustained multi-front pressure on the company's reputation and client relationships.
Evidence & Sources
Verified sources including NGO reports, regulatory filings, and primary documents. Use these to substantiate your correspondence. Entries marked First-hand were reported directly to this site and are published without identifying the source.
16 Sep 2025 Report UN Commission of Inquiry: Legal Analysis of Israel's Conduct in Gaza under the Genocide Convention
The UN Independent International Commission of Inquiry on the OPT concludes that Israeli authorities and security forces 'have committed and are continuing to commit' acts of genocide against Palestinians in Gaza, and that Israel 'bears responsibility for the failure to prevent genocide, the commission of genocide and the failure to punish genocide' (A/HRC/60/CRP.3, paras. 252 and 255).
Open source1 Sep 2025 Official Doc UN Human Rights Office Updates Settlement Business Database
UN Human Rights Office updates database to 158 businesses from 11 countries involved in Israeli settlements. BlackRock identified as major shareholder in multiple listed companies.
Open source30 Jun 2025 Report UN Special Rapporteur Report: 'From Economy of Occupation to Economy of Genocide'
Francesca Albanese names BlackRock as among 'main investors' behind companies complicit in Israel's genocide. Report identifies BlackRock as major shareholder in Lockheed Martin (7.2%), Caterpillar (7.5%), Palantir (8.6%), and other implicated companies.
Open source22 Oct 2024 Court Filing ClientEarth Files Greenwashing Complaint Against BlackRock
Environmental law organisation files complaint with French AMF over 18 funds marketed as 'sustainable' despite $1+ billion invested in fossil fuel giants. First such complaint against a financial institution.
Open source15 Oct 2024 News Hundreds Protest at BlackRock NYC Headquarters
WAFA reports hundreds of activists demonstrated at BlackRock headquarters demanding withdrawal of investments from Israeli companies and defence contractors supplying weapons to Israel.
Open source1 Oct 2024 NGO CODEPINK: What is BlackRock?
Documents BlackRock's $36+ billion investments in defence contractors (Lockheed Martin, RTX, Boeing, Northrop Grumman, General Dynamics) and iShares defence spending fund including Elbit Systems.
Open source7 Jul 2024 NGO UN Experts Say BlackRock & Wall Street Banks Profiting from Israel's Crimes
Geopolitical Economy Report documents UN expert findings on financial institutions' roles in enabling Israeli military operations in Gaza.
Open source20 Jun 2024 Official Doc UN Experts: States and Companies Must End Arms Transfers to Israel
UN human rights experts warned financial institutions including BlackRock that investing in arms companies could move from being 'directly linked to human rights abuses to contributing to them, with repercussions for complicity in potential atrocity crimes.'
Open source30 Apr 2024 News Al Jazeera: Divest from Israel - Decoding the Gaza Protest Call
Reports on US campus protests specifically naming BlackRock alongside Lockheed Martin, Google, and Microsoft as targets for divestment campaigns.
Open source1 Jan 2024 NGO Who Profits: SolarEdge (BlackRock 8.05% shareholder)
Documents SolarEdge installations in occupied West Bank settlements Shdemot Mehola and Petza'el on approximately 50 dunams of Palestinian land. BlackRock holds 8.05% stake.
Open source1 Jan 2024 NGO Who Profits: RE/MAX Holdings (BlackRock 7.61% shareholder)
Documents RE/MAX Israel offering properties for sale and rent in occupied West Bank, East Jerusalem, and Syrian Golan settlements. BlackRock Advisors LLC holds 7.61% stake.
Open sourceUpdates & Milestones
BlackRock reports record assets under management of $13.46 trillion, up 17% year-over-year, despite ongoing divestment campaigns and ESG controversies.
UN Human Rights Office updates database to 158 companies. BlackRock identified as major shareholder in multiple listed enterprises including SolarEdge and RE/MAX Holdings.
Francesca Albanese's report 'From Economy of Occupation to Economy of Genocide' identifies BlackRock as among 'main investors' in companies complicit in Israel's genocide. US imposes unprecedented sanctions on Albanese.
Following ClientEarth complaint, BlackRock announces changes to 60 funds representing $92 billion, removing sustainability-related terms from 56 fund names.
International Criminal Court issues arrest warrants for Israeli officials citing crimes against humanity including extermination and starvation as method of warfare.
Environmental law organisation files first-ever greenwashing complaint against a financial institution with French regulator AMF, citing $1B+ in fossil fuel investments in 'sustainable' funds.
Hundreds of activists demonstrate at BlackRock's 50 Hudson Yards headquarters demanding divestment from Israeli companies and defence contractors.
Malaysian NGOs call for cancellation of airport deal involving BlackRock-owned company. Prime Minister Anwar faces pressure but proceeds with deal citing economic necessity.
UN human rights experts warn that failure to prevent business relationships with arms manufacturers could result in 'repercussions for complicity in potential atrocity crimes.'
Student encampments at Columbia, UCLA, and dozens of universities specifically name BlackRock in divestment demands alongside defence contractors and tech companies.
The International Court of Justice finds a real and imminent risk to the right of Palestinians in Gaza to be protected from acts of genocide, and orders Israel to prevent them. The resulting duty of prevention increases legal exposure for financial enablers.
Following October 7 attacks, Fink states he is 'outraged' and 'horrified,' praises US deployment of aircraft carrier to region as 'spectacular statement.'
BlackRock begins operating in Israel, offering investment solutions to institutions and individuals across the country.