"BlackRock C.E.O. Larry Fink: Climate Crisis Will Reshape Finance"

"In his influential annual letter to chief executives, Mr. Fink said his firm would avoid investments in companies that “present a high sustainability-related risk.”"

"Laurence D. Fink, the founder and chief executive of BlackRock, announced Tuesday that his firm would make investment decisions with environmental sustainability as a core goal.

BlackRock is the world’s largest asset manager with nearly $7 trillion in investments, 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.

Mr. Fink’s annual letter to the chief executives of the world’s largest companies is closely watched, and in the 2020 edition he said BlackRock would begin to exit certain investments that “present a high sustainability-related risk,” such as those in coal producers. 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.”"

Andrew Ross Sorkin reports for the New York Times January 14, 2020.


"BlackRock Puts Climate at Center of $7 Trillion Strategy" (Bloomberg)

"BlackRock Makes Climate Change Central To Its Investment Strategy" (Washington Post)

"BlackRock Joins $41 Trillion Investor Climate Campaign" (Bloomberg Environment)

"BlackRock Joins $41 Trillion Investor Climate Campaign" (Bloomberg)

"BlackRock Joins Pressure Group Taking On Biggest Polluters" (Guardian)

Source: NY Times, 01/15/2020