Asset manager BlackRock to focus on climate change

Categories: Big picture
Published on: January 15, 2020

CBC News / The Associated Press / 14 January 2020

BlackRock, the world’s largest asset manager, will make climate change central to its investment decisions.

Founder and CEO Laurence Fink, who oversees the management of about $7 trillion in funds, said in his influential annual letter to CEOs Tuesday that he believes we are “on the edge of a fundamental reshaping of finance” because of a warming planet.

Climate change has become the top issue raised by clients, Fink said, and will affect everything from municipal bonds to long-term mortgages for homes.

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