Huge selloff, page-66

To put it in perspective, they control assets worth over $US5.5 trillion.

But its not a bummer.

They used to invest heavily in coal oil and gas but are pulling their money from that and pouring it into the renewable sector. They are already heavily into GXY and major funders of two large scale solar projects in NSW and on the agressive hunt for more projects, especially in Australia.

You know the saying "Coal is dead"?

That phrase was coined by the Blackrock CEO.

As for how they behave as leading shareholders - here are two case studies from this year for examples.

* Earlier this year they lead a shareholder revolt at Exxon to force the company to comply with global carbon reporting standards and several other environmental issues. They also very narrowly missed out on spilling the Board. The whole US oil industry was shaken to the core.

* Last weak they threatened a shareholder revolt at BHP. BHP has responded by saying they will be withdrawing from the Mineral Council of Australia and won't be funding the Clean Coal advertising any more. I have no doubt the next BHP AGM will have some very sweaty and nervous directors.

They are backing lithium because they believe in it, not because they want to raid it.