BlackRock, which reported US$11.5 trillion in assets in January 2025, is on the register’s watch list: its documented nature activity is research and data, and no source checked names it in any nature performance deal [IC].
Right of reply
This page describes BlackRock only through its published statements and the public records of the deals listed. BlackRock has not yet been invited to comment. Responses and corrections will be recorded here with their date. On register pages, [MS] marks a claim that rests only on the institution’s own statement or on statements by parties to the same deal.
In the register
The register follows instruments whose terms depend on a verified ecological outcome, the broad family of the performance-based bond. The register index explains its tiers, roles and claim tags. No nature performance deal names BlackRock in the sources checked, so the register lists it on the watch list for the policies, research or products below.
The search covered the World Bank investor lists for the Rhino, Amazon, Spekboom, plastics, Vietnam and clean cooking bonds, the JSE’s Cape Water notice, the debt-conversion deal documents and the Uruguay and Chile sustainability-linked bond sources.
| Date | Item | What the record shows | Claim |
|---|---|---|---|
| August 2024 | BlackRock Investment Institute, “Capital at risk: nature through an investment lens” | The summary frames nature as a source of “new risks and opportunities” for investors. The full paper was not retrieved. | [IC] publication; content [TBV] |
| 1 October 2024 | Acquisition of Global Infrastructure Partners completed | About US$170bn of infrastructure assets; the release does not mention nature or water | [IC] |
| June 2026 | Natural History Museum Biodiversity Intactness Index added to BlackRock Sustainable Investing Intelligence | A platform that “manages $125bn in strategies”; Chris Kaminker called the index a “financially material dataset” | [IC] |
Over the same period BlackRock reduced its coalition commitments. In February 2024 it moved its Climate Action 100+ membership to a smaller UK subsidiary, and in January 2025 it left the Net Zero Asset Managers initiative [IC]. Texas removed it from its fossil fuel boycott list in June 2025 [IC]. It remains a defendant, with State Street, in the antitrust case Texas and other states filed in November 2024; Vanguard settled in February 2026, and trial is set for January 2028 [IC].
What it has said
BlackRock called the states’ legal theory “absurd” [MS]. In the June 2026 announcement it said that over 80% of its largest clients in Europe and Asia-Pacific have set sustainability objectives [IC].
Open questions
Three limits apply. Fund holdings filings (US SEC N-PORT, UCITS annual reports) were not searched for the Galápagos, Gabon, Belize, El Salvador or Ecuador notes, whose buyers are described only as asset managers, insurers and pension funds, so an undisclosed holding in a BlackRock fund is possible. Uruguay’s sustainability-linked bond is a large index-eligible sovereign bond that emerging-market debt funds may hold; that is an inference with no holder disclosure found. BlackRock’s Climate Finance Partnership and water-themed funds were not sourced.
Related
References
- ai-cio, BlackRock leaves Net Zero Asset Managers (January 2025)
- Portfolio Institutional, BlackRock Investment Institute “Capital at risk: nature through an investment lens” (2024)
- BlackRock, completion of the Global Infrastructure Partners acquisition (1 October 2024)
- Net Zero Investor, BlackRock to integrate nature data into BSI investment analytics (June 2026)
- S&P Global, JPMorgan and State Street quit Climate Action 100+ (February 2024)
- ESG Today, BlackRock removed from Texas boycott list (2025)
- Bloomberg Law, DOJ weighs joining Texas case against BlackRock and State Street (September 2026)
- ESG Dive, motion to dismiss denied in Texas coal antitrust case (August 2025)
- NYU Stern Center for Business and Human Rights, Vanguard settles on ESG (2026)
Provenance
Drafted on 15 October 2026 from the research brief Nature performance bond investors.md, compiled the same day from five research strands: outcome-linked and sustainability-linked bonds, environmental impact bonds, debt-for-nature conversions, insurers and reinsurers, and the largest asset managers with their regulatory context. Claim tags follow the brief, which never upgraded a claim without a source and lowered to [MS] any claim a research note had graded [IC] on the strength of a company’s own release. The headquarters country in based_in comes from general knowledge unless a deal record states it, and is to be confirmed. The brief’s search had limits: fund holdings filings, municipal bond disclosures and the Oxford INDIGO and Brookings impact bond databases were not searched, so a deal missing from this page may exist.