BlackRock's clean-up may hit Indian firms

BlackRock,is an American global investment management corporation based in Newyork city. Founded in 1988,initially it is a risk management and fixed income institutional asset manager. It is the world's largest asset manager,with $696 trillion in asset. Companies that get 25 per cent of their revenues from thermal coal production ,besides making no future direct investment in such firms,could shrink the bouquet of investors for players like NTPC, the Adani group and coal india (CIL). With 46.28 trillion in assets under management,BlackRock, is at least by that measure-the largest investment management company in the world,publicity traded or otherwise.

                                                                                    Boasting a market capitalization of over 486 billion,the firm sells mutual funds,exchange-traded funds,and closed end funds-in addition to other vehicles that focus on objectives ranging from retirement income to college saving plans. As part of evaluating sectors with high environment ,social and governance risk,the asset manager with a $7 trillion investment portfolio said it will "closely scrutinise other businesses that are heavily reliant on thermal coal as an input,in order to understand whether they are effectively transitioning away from this reliance.

                                                                             

                                                                                    We manage assets for clients in North and South america ,europe,asia,australia,the middle east and africa. NTPC and Adani power ,the power generators could face risk. the blackrock's alternatives business will make no future direct investment in companies that generate more than 25 per cent of their revenues from thermal coal production. The companies like china shenhua,china national coal group,CIL, adani enterprise,peabody energy,arch coal,contura energy,CONSOL coal resources LP,PT bumi resources,whitehaven coal,new hope corp and yancoal australia are up for immediate review and likely divestment.  IEEFA said that divestment of a much wider range of firms like KEPCO,TEPCO,Duke Engergy,RWE, southern, NTPC and Adani power and will also include chinese power utility majors such as china Huaneng group, china datang corp,china huadian corp , state power investment corp and china energy group.