Climate risk will re-shape finance, according to the world’s largest asset manager BlackRock

Larry Fink, founder and CEO of BlackRock (the world’s largest asset manager with close to $7 trillion in investments) is pushing companies to consider their carbon footprints. He announced that BlackRock would exit investments that “present a high sustainability-related risk” and that “in the absence of robust disclosures, investors, including BlackRock, will increasingly conclude that companies are not adequately managing risk.”