The world’s largest money manager has warned companies to be « more forceful » in addressing climate change or removing it from its actively managed funds.
Larry Fink, chairman and general manager of Blackrock, said a « fundamental Reallocation of capital « towards sustainable assets » accelerated rather than slowed during the pandemic.
In his annual « Dear CEO » letter, 68-year-old Fink said his company would expect executives to explain how want their companies to function in a net-zero economy by 2050.
Companies that formulate a clear plan will instill the trust of customers, employees, authorities and investors, he said, adding, « Companies that Failure to prepare quickly will see their businesses and ratings suffer as the same stakeholders lose confidence that these companies can adjust theirs
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