Finance
BlackRock Stake in U.S. Coal Giant Shrinks Amid Climate Vow
- Largest asset manager now has 5% stake in Peabody Energy
- BlackRock vowed in January to divest from thermal coal
The Peabody Energy Somerville Central surface mine in Oakland City, Indiana, on April 5, 2016.
Photographer: Luke Sharrett/This article is for subscribers only.
Even before publicly vowing to unwind its investments in coal, BlackRock Inc. began cutting its stake in the biggest U.S. miner.
The world’s largest asset manager had about 4.87 million shares of Peabody Energy Corp. as of Dec. 31, a 5% stake, according to a regulatory filing Friday. That’s down 14% from the end of January 2019, making it the miner’s sixth-largest holder, according to data compiled by Bloomberg.