Climate Change Data

BlackRock Asset Management Deutschland AG

Climate Impact & Sustainability Data (2019-05-01 to 2020-04-30, 2023, 2024-05-01 to 2024-10-31)

Reporting Period: 2019-05-01 to 2020-04-30

Environmental Metrics

ESG Focus Areas

  • Environmental protection
  • Social criteria
  • Economic criteria

Climate Goals & Targets

Environmental Challenges

  • Effects of the coronavirus pandemic (COVID-19) causing significant negative effects on global financial markets, high volatility, price markdowns, and temporary liquidity shortages.
Mitigation Strategies
  • More intensive monitoring activities; no further extraordinary measures were necessary for managing market price risk, currency risk, or liquidity risk beyond intensified monitoring.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:28,137 tCO2e (Scope 1 & 2 location-based, 2022)
Scope 1 Emissions:5,765 tCO2e (2022)
Scope 2 Emissions:22,372 tCO2e (location-based, 2022)
Scope 3 Emissions:Various, see report for details (2022)
Renewable Energy Share:100% (2022)
Total Energy Consumption:75,760 MWh (2022)
Waste Generated:396 tons (2022)

ESG Focus Areas

  • Climate Change

Environmental Achievements

  • Achieved 100% renewable electricity match goal since 2020.
  • Obtained LEED Platinum and Fitwel 2 Star Rating certifications for 50 Hudson Yards office in 2023.
  • Established a Supplier Sustainability Program to engage with suppliers on GHG emissions reduction.
  • Purchased and retired 571,640 CER credits via the Adaptation Fund (2019-2023).

Social Achievements

  • Launched Transition Capital and Global Corporate Sustainability Controllers teams in 2023.
  • Held 1,662 engagements on climate and natural capital in the 2022-2023 proxy year.
  • Supported 14 out of 164 shareholder proposals addressing climate and natural capital issues (2022-2023).
  • Expanded BlackRock Voting Choice program to its largest ETF in early 2024.

Governance Achievements

  • Board of Directors oversees investment stewardship, public policy, corporate sustainability, and social impact activities.
  • Nominating, Governance and Sustainability Committee oversees climate-related matters.
  • Risk Committee assists the Board with oversight of climate and other sustainability risks.

Climate Goals & Targets

Short-term Goals:
  • 67% reduction of Scope 1 and 2 emissions by 2030
  • 40% reduction in Scope 3 business travel emissions by 2030
  • Engagement of suppliers representing 67% of the firm’s emissions to set science-aligned goals by 2025

Environmental Challenges

  • Market risks related to climate change (fluctuations in asset value, reduced investment management revenues).
  • Challenges in developing new products and services to meet client climate-related needs.
  • Reputational risks from competing stakeholder demands on climate-related matters.
  • Regulatory risks from new environmental and sustainability-related disclosure requirements.
  • Data limitations and lagged data in GHG emissions reporting.
Mitigation Strategies
  • Employing a three-lines-of-defense approach to managing investment risks, including climate-related risks.
  • Leveraging Aladdin Climate analytics to conduct climate scenario analysis.
  • Developing and implementing business continuity plans to address business disruptions.
  • Using estimates to fill data gaps in GHG emissions reporting while acknowledging limitations.
  • Adjusting carbon footprint metrics to account for market volatility.

Supply Chain Management

Responsible Procurement
  • Supplier Sustainability Program

Climate-Related Risks & Opportunities

Physical Risks
  • Adverse climate events impacting global offices (limited direct financial impact).
Transition Risks
  • Market risks, regulatory changes, changes in client preferences.
Opportunities
  • Increased demand for sustainable investment products and Aladdin Climate.
  • Reduced expenses from resource efficiency initiatives.

Reporting Standards

Frameworks Used: TCFD

Certifications: LEED Platinum, Fitwel 2 Star Rating

Third-party Assurance: Deloitte (limited assurance for 2021 and 2022 GHG emissions)

Sustainable Products & Innovation

  • Aladdin Climate
  • Sustainable ETFs and IMFs
  • Sustainable fixed income products
  • Climate Transition Oriented Private Debt strategy

Reporting Period: 2024-05-01 to 2024-10-31

Environmental Metrics

ESG Focus Areas

  • Sustainability

Climate Goals & Targets

Environmental Challenges

  • Difficult phase for the German economy, particularly in industrial and construction sectors.
  • Persistently high financing costs and uncertainties surrounding economic conditions.
  • Ongoing competitiveness issues in German exports.
  • Subdued domestic and foreign demand for German industrial goods.
  • Low capacity utilization in manufacturing.
  • Cautious consumer spending despite rising real incomes.
  • Increasing competitive pressure in the asset management industry.
Mitigation Strategies
  • Developing model portfolios for banks, online brokers, and robo-advisors.
  • Investing in excellent service and products to meet customer needs.
  • Continuous and innovative expansion of the offering to maintain market leadership.
  • Large number of customer group-specific and individual sales activities planned.

Supply Chain Management

Climate-Related Risks & Opportunities