Sofia Osuna MonroyAndrea Fuentes
In an annual letter to CEOs published Tuesday, BlackRock chief executive Larry Fink said: "Climate change has become a defining factor in companies' long-term prospects." "But awareness is rapidly changing, and I believe we are on the edge of a fundamental reshaping of finance," he added. ...
Blackrock said its decision to leave the initative "does not change the way we develop products and solutions for clients or how we manage their portfolios." It said its active portfolio managers "continue to assess material climate-related risks." "We say climate change is ...
And Fink's letter may in part be a reaction to rising criticism that he and his firm have done little to address climate change. As recently as November, climate activistsprotestedoutside of BlackRock's London offices, dumping ashes in an effort to tie the firm's investments to fires raging...
Funds industry called out over role in fighting climate change However, the impact of the pandemic has seen a tectonic shift as “the reallocation of capital accelerated even faster than I anticipated” wrote Fink. “From automobiles to banks to oil and gas companies… companies with better ESG...
BlackRock, the world’s largest asset manager, said all investors should factor climate change into their decision-making and doing so would not mean having to accept lower returns. Global moves to coordinate a response to climate change took a big step forward on Saturday when both China and ...
Unlike BlackRock, Microsoft isn’t a newcomer to the climate challenge or to carbon offsetting. The company has always recognized the validity of climate science, and it began experimenting with offsetting in general and REDD+ in particular nearly a decade ago, when it started investing in ...
Asset management firm BlackRock is leaving a climate-focused investing group, the group confirmed. “We are disappointed to see any investor withdraw, but as a voluntary initiative, we respect any individual decisions signatories take,” said a spokesper
is ramping up its preference for developed markets because of efforts to combat climate change, and touting the risk for developing nations and their more carbon-intensive economies. Technology and health-care stocks will prove more resilient to the shift, and those industries make up a ...
Many pension funds and providers have become increasingly concerned about the risks of climate change, with some such as Aegon committing to ensuring all of the default funds offered to savers are net carbon neutral by 2050. Aegon, which is a client of BlackRock, said it was engaging with its...