By
Steven Mufson and
Rachel Siegel
Jan. 14, 2020 at 6:37 p.m. GMT+2
BlackRock, the world’s largest money manager, will make sustainability and climate risks key tenets of its investing strategy, a move that its chief executive said should push financial institutions to prioritize climate change issues.
“Climate change has become a defining factor in companies’ long-term prospects,” BlackRock chairman and chief executive Larry Fink said in his annual letter to chief executives. “But awareness is rapidly changing, and I believe we are on the edge of a fundamental reshaping of finance.”
BlackRock, the world’s largest money manager, will make sustainability and climate risks key tenets of its investing strategy, a move that its chief executive said should push financial institutions to prioritize climate change issues.
“Climate change has become a defining factor in companies’ long-term prospects,” BlackRock chairman and chief executive Larry Fink said in his annual letter to chief executives. “But awareness is rapidly changing, and I believe we are on the edge of a fundamental reshaping of finance.”
