Larry Fink has unveiled a raft of actions to integrate sustainability into BlackRock's investment offering, with ESG set to be assessed with the "same rigour" as liquidity and credit risk.
In his annual letter to CEOs, Fink said climate change "has become a defining factor in companies' long-term prospects" and added that "we are on the edge of a fundamental reshaping of finance". He said: "Every government, company, and shareholder must confront climate change." Then, in an open letter to BlackRock's clients, CEO Fink added: "We believe that sustainability should be our new standard for investing." BlackRock was recently identified as one of the three worst-performing asset owners with regards to climate-related proxy voting by campaign group ShareAction, along with...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
