Week of 13 January 2020
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.”
“Awareness [of climate change] is rapidly changing, and I believe we are on the edge of a fundamental reshaping of finance. The evidence on climate risk is compelling investors to reassess core assumptions about modern finance.” Laurence Fink, founder and CEO, BlackRock"