‘We are on the edge of a fundamental reshaping of finance’
State Street, 17 January 2020
BlackRock’s move to put climate change centre stage won’t be a huge shock to Australian companies, which are used to industry super funds flexing their muscles.
Any coal miners or oil producers still hoping the whole climate change debate might somehow blow over would be well advised to read the latest missive sent out to the heads of the world’s largest companies by Larry Fink, the founder and chief executive of BlackRock. Now, it’s highly likely that Fink’s latest letter – like its predecessors – will be read very closely because BlackRock has the distinction of being the world’s largest asset manager, with nearly $US7 trillion ($10.1 trillion) in investments.
