BlackRock Will Put Climate Change at Center of Investment Strategy - News Summed Up

BlackRock Will Put Climate Change at Center of Investment Strategy


Laurence D. Fink, the founder and chief executive of BlackRock, plans to announce Tuesday that his firm will make investment decisions with environmental sustainability as a core goal. BlackRock is the largest in its field, with nearly $7 trillion under management, and this move will fundamentally shift its investing policy — and could reshape how corporate America does business and put pressure on other large money managers to follow suit. His intent is to encourage every company, not just energy firms, to rethink their carbon footprints. “Awareness is rapidly changing, and I believe we are on the edge of a fundamental reshaping of finance,” Mr. Fink wrote in the letter, which was obtained by The New York Times. “The evidence on climate risk is compelling investors to reassess core assumptions about modern finance.”


Source: New York Times January 14, 2020 07:52 UTC



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