BLACKROCK SUSTAINABILITY

Human capital

With approximately 19,800 employees in more than 30 countries,1 BlackRock provides a broad range of investment management and technology services to institutional and retail clients in more than 100 countries across the globe. As an asset manager, BlackRock’s long-term success depends on its people and how it manages its workforce.

BlackRock believes that maintaining a strong corporate culture is an important component of its human capital management practices and critical to the firm’s long-term success. BlackRock’s culture is underpinned by five core principles that unify its workforce and guide how it interacts with its employees, its clients, the communities in which it operates and its other stakeholders: (1) We are a fiduciary to our clients; (2) We are One BlackRock; (3) We are passionate about performance; (4) We take emotional ownership; and (5) We are committed to a better future.

Each year, we set objectives related to human capital. We seek to achieve these objectives through specific programs and initiatives related to culture, diversity, equity and inclusion and employee engagement, development, retention and recruiting.

Learn more about BlackRock’s approach to human capital and DEI

Human rights and labor standards

Human rights are a fundamental concern for BlackRock in its relationships with employees and suppliers. BlackRock commits to respect human rights in accordance with internationally accepted standards, such as the United Nations Guiding Principles for Business and Human Rights2and the International Labour Organization’s (“ILO”) Core Conventions.3 As a participant of the United Nations Global Compact (“UNGC”),4 BlackRock considers methods to implement practices that align its corporate operations with the universal principles on human rights, labor, the environment and anti-corruption.

As defined by the United Nations,5 human rights are inherent to all human beings and include the right to life, health and well-being, privacy, fair wages and decent working conditions; freedom from discrimination, slavery and torture; and freedom of association. BlackRock maintains processes to identify, manage, and prevent adverse human rights impacts that could arise from its own corporate operations and demonstrate respect for human rights in line with the expectations outlined in the UNGC Ten Principles. More specifically, BlackRock:

    • Provides a safe and secure workplace for its employees that fully complies with all health and safety laws, regulations and practices. In addition, BlackRock ensures that all employees are provided with appropriate health and safety training, such as safe work practices and emergency preparedness.
    • Fully complies with all applicable laws and regulations when setting employee conditions on working hours, benefits and wages (such as minimum legal wages).
    • Fully complies with all applicable child labor laws and only employs workers who meet the minimum legal age for that jurisdiction. Where local laws are less stringent than the ILO minimum age convention, BlackRock complies with the ILO standard.6
    • Will not use any involuntary labor, such as, forced labor, bonded, indentured or prison labor and not be involved in any human trafficking or exploitation.
    • Manages its employees in a fair and ethical manner and assures that all employees are treated with dignity and respect. BlackRock maintains a workplace free from unlawful discrimination and harassment.

In addition, BlackRock upholds freedom of association, for openly communicating, and sharing ideas, concerns, or grievances with management regarding working conditions, wages or benefits without fear of discrimination, reprisal, intimidation or harassment; and employees have the right to collective bargaining and are free to join a labor union, unless restricted under local law.

BlackRock is committed to protecting the human rights of our employees through implementing policies related to harassment and discrimination prevention, our commitments as an equal employment opportunity employer, and overtime. These policies seek to provide applicants and employees equal treatment regardless of certain identified characteristics that have attracted historical stereotyping or bias in relation to employment. We comply with all applicable laws and regulations on forced and child labor and the rights of employees to organize a union.

Our non-harassment policy details BlackRock’s commitment to providing equal employment opportunities and a workplace that is respectful, productive, and free from harassment, including, but not limited to, sexual harassment. This policy outlines clear procedures for reporting and responding to issues of concern.

BlackRock investigates all complaints filed and any possible violation of the policy of which we are made aware. If BlackRock determines that an employee has engaged in activities that are in violation of, or inconsistent with the policy, the firm will take appropriate disciplinary action against the offending employee, up to and including termination of employment.

Each employee is required to annually complete our mandatory “Respect in the Workplace” compliance training, which focuses on creating a respectful work environment and prevention of harassment and discrimination, including sexual harassment. All employees are strongly encouraged to raise concerns regarding violations of our policies. Employees have numerous options for reporting concerns, including to their manager, HR Business Partner, Employee Relations Advisor, BlackRock’s EEO Officer, our internal contact HR resource or even anonymously through BlackRock’s Employee Complaint Hotline via our Intranet. Each employee is responsible for complying with BlackRock’s equal employment opportunity and non-harassment policies at all times.

Learn more about BlackRock’s approach to human rights & labor standards