In 2024, BlackRock completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
BlackRock has also provided a category-level breakdown for 9 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 7,188a | 6,983a | 6,895a | |
Total Scope 2 | ||||
Market-Based | 773a | 1,568a | 2,382a | |
Location-Based | 22,600a | 23,500a | 21,514a | |
Total Scope 3 | 322,761a | 856,793b | 389,612b | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.3522a | 0.391a | 0.3858a |
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In 2024, the total operational greenhouse gas (GHG) emissions of BlackRock amounted to 29,788 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of BlackRock decreased by 2.28%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2024, the total Scope 1 emissions of BlackRock were 7,188 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, BlackRock's Scope 1 emissions have increased by 9.19%, reflecting a rising long-term trend in Scope 1 emissions over time.a
Compared to the previous year (2023), BlackRock's Scope 1 emissions increased by 2.94%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
In 2024, BlackRock reported Scope 2 greenhouse gas (GHG) emissions of 773 tCO₂e using the market-based method and 22,600 tCO₂e using the location-based method.a
Since 2019, BlackRock's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have remained relatively stable, indicating that BlackRock's emissions have plateaued with no significant change in its energy consumption footprint.a
Compared to the previous year (2023), BlackRock's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that BlackRock's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, BlackRock reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, BlackRock reported 322,761 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of BlackRock includes a breakdown across 8 of the 15 Scope 3 categories defined by the GHG Protocol, down from 9 in 2023, indicating a decline in reporting granularity and reduced insight into the company's full value chain emissions.a
In 2024, BlackRock reported total Scope 3 emissions of 322,761 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 100% of these emissions originated from upstream activities such as purchased goods and capital goods, while 0% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2019, BlackRock's Scope 3 emissionshave remained relatively stable, indicating that BlackRock's emissions have plateaued with no significant change in its value chain footprint.ac
Compared to the previous year (2023), BlackRock's Scope 3 emissions decreased by 62.33%, highlighting the company's efforts to lower indirect emissions from its value chain.ab
In 2024, BlackRock reported emissions for 8 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This partial disclosure allows for some insight into the company's indirect impacts.
In 2024, the largest contributors to BlackRock's Scope 3 emissions were:a
In 2024, BlackRock reported Scope 1 greenhouse gas (GHG) emissions of 7,188 tCO₂e and total revenues of USD 20,409 millions. This translates into an emissions intensity of 0.35 tCO₂e per millions USD.a
In 2024, BlackRock reported a Scope 1 emissions intensity of 0.35 tCO₂e per millions USD. Compared to the peer group median of 0.14, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, BlackRock ranked 20 out of 24 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places BlackRock among the least efficient performers, with one of the highest emissions intensities in its sector.a
In 2024, BlackRock reported a total carbon footprint of 352,549 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 60.27% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.ab
The largest contributor to BlackRock's total carbon footprint was Scope 3 emissions, accounting for 91.55% of the company's total carbon footprint, followed by Scope 2 emissions at 6.41%.a