Tesla

BlackRock Discloses Massive 50M+ Share Stake in Tesla TSLA, Sustainability a Top Priority

BlackRock Discloses Massive 50M+ Share Stake in Tesla TSLA, Sustainability a Top Priority

In early 2020, BlackRock announced that the firm will be placing sustainability at the helm of its investment approach. In line with its plan, BlackRock continues to invest in companies that aim to move the world to sustainable energy and has bought over 50 million Tesla (NASDAQ: TSLA) shares for a total of $42.1 billion.

February 5, BlackRock Inc. filed an SC 13G form with the Securities and Exchange Commission (SEC) disclosing ownership of 50,080,396 shares of Tesla. This represents 5.3 percent ownership of the company. In their previous filing, dated 2012-12-06, BlackRock Inc. had reported owning 5,679,716 shares, indicating an increase of 781.74 percent.

In January 2020, Laurence D. Fink, the founder and chief executive of BlackRock announced in a letter to the company's clients that the firm will prioritize sustainability in its investment approach. Included in his announcement were the steps the investment management corporation would take towards a portfolio with sustainability as a focus:

  • making sustainability integral to portfolio construction and risk management.
  • exiting investments that present a high sustainability-related risk, such as thermal coal producers.
  • launching new investment products that screen fossil fuels.
  • strengthening the firm's commitment to sustainability and transparency in its investment stewardship activities.

Tesla is a company that is at the forefront of sustainability. The manufacturer's contribution towards sustainability is truly impressive. In addition, Tesla is showing strong growth, which inspires investor confidence. That is why the manufacturer is increasingly attracting the attention of investment firms that believe in its success.

H/T Sawyer Merritt/Twitter

© 2021, Eva Fox. All rights reserved.

_____________________________

We appreciate your readership! Please share your thoughts in the comment section below.

Legal Disclaimer --

This article is for informational purposes only. You should not construe any such information or other material as an investment, financial, or other advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, or offer by Eva Fox, Tesmanian, or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.

Eva Fox holds zero shares of Tesla, Inc., and currently (at the time of this article's publishing) holds zero options or securities in Tesla Inc. and/or its affiliates.

About the Author

Eva Fox

Eva Fox

Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.

Follow me on X

Reading next

SpaceX Starlink Internet is already in use at Germany's Tesla Gigafactory Berlin
Tesla Has Updated Features for Enhanced Autopilot Packages in China & Europe

Tesla Accessories