The BlackRock Foundation commits €15 million to skilled trades workers in Germany

New BlackRock Future Builders™ Germany initiative will help more than 5,000 people pursue high-demand skilled trades careers

BlackRock will partner with JOBLINGE and the Senior Expert Service, two longstanding organizations working alongside employers, training providers and apprentices within Germany's world-leading vocational training system

FRANKFURT, 19 October 2026 - BlackRock today announced a €15 million philanthropic commitment over five years to expand economic opportunity and help power Germany's next generation of skilled trades workers through BlackRock Future Builders, an initiative funded by The BlackRock Foundation.

BlackRock Future Builders will help address Germany's skilled trades shortage by connecting more people to high-demand apprenticeships and providing the support needed to complete them successfully. As the first European expansion of the global BlackRock Future Builders initiative, the program in Germany will build on the strengths of the country's world-leading vocational training system and work through established national organizations.

Germany is at a pivotal moment for its long-term economic outlook. Major investments in infrastructure, the energy transition and digitalization, including the government's €500 billion public investment program, provide a timely opportunity to strengthen the country's economic growth and competitiveness. Research published today by the German Economic Institute (IW) points to a critical obstacle: the country's labor shortage, including almost 150,000 unfilled positions in skilled trades critical to the investment program, such as electricians, plumbers, heating, ventilation and air conditioning technicians, industrial maintenance workers and many others. IW estimates that labor shortages across all occupations cost Germany approximately €49 billion in forgone economic output in 2024 alone.

At the same time, too many young people struggle to access training opportunities that match their needs. More than 400,000 people aged 20 to 24 in Germany, representing 10% of that age group overall, were neither employed nor in education or training in 2025, up from 8.8% in 2022, according to Germany's Federal Statistical Office.¹

BlackRock Future Builders Germany will begin with an initial €5 million philanthropic commitment to two national organizations that support young people at two pivotal stages of the apprenticeship journey: entering training and successfully completing it. JOBLINGE helps young people secure apprenticeship and employment opportunities, while the Senior Expert Service's (SES) VerAplus program provides one-to-one mentoring to help apprentices stay on track and see their training through to the end. Together, these organizations are expected to help more than 1,500 people enter and succeed in skilled trades careers over the next three years.

Of the total €15 million philanthropic commitment, the remaining €10 million will be deployed through partnerships with organizations across Germany that are helping to prepare the next generation of skilled workers, with the program aiming to reach more than 5,000 people in total over five years as it expands.

"Germany has enormous ambitions for what it wants to build, and realizing them will depend on having the skilled workers to make it happen. The country already has one of the world's strongest vocational training systems, and we're proud to make it the first in Europe to launch BlackRock Future Builders. We're investing in organizations working within that system to help more people start apprenticeships, complete their training and build lasting careers." Larry Fink, Chairman and CEO of BlackRock

"A country's future is ultimately shaped by the futures its citizens are able to build for themselves. As a long-term investor in Germany on behalf of our clients, we believe strengthening that foundation is part of our responsibility here. For more than 30 years BlackRock has been part of Germany's economic journey, and BlackRock Future Builders builds on that commitment. By expanding pathways into skilled careers, we can help more people secure a stake in the country's growth." Dirk Schmitz, Country Head of Germany, Austria and Eastern Europe at BlackRock

"Germany faces a double challenge: many young people struggle to find a good start in an apprenticeship or career, while companies are urgently searching for skilled talent at the same time. With the support of The BlackRock Foundation, we can address exactly this intersection. We want to inspire young people about careers in infrastructure, construction, mobility and energy, prepare them to be job-ready, and connect them with employers. But entering an apprenticeship is only part of it. Young people also need the chance to complete it successfully. This partnership allows us to connect career orientation and placement more closely with ongoing support throughout the apprenticeship itself." Kadim Tas, CEO, JOBLINGE

"The challenges we're now seeing in Germany's training and labor market were already becoming clear years ago. That is when we decided to act, and since 2008 we have been supporting apprentices through our VerAplus mentoring program, with backing from both public and private partners. Having The BlackRock Foundation alongside us now gives us real confidence and makes us even stronger, and it is a strength we will pass on to young people, successful apprenticeship journeys and the skilled workforce of tomorrow." Marion Sodemann, Managing Director, Senior Expert Service (SES)