World’s Largest Asset Manager Places Climate at Center of US$7 Trillion Strategy

Blackrock will withdraw debt investments and shares of thermal coal producers and intends to double the set of sustainable index funds.

RIO DE JANEIRO, BRAZIL - BlackRock CEO Larry Fink included an urgent observation in his annual letter to US corporate executives: Climate change will transform global finances sooner than one might think.

Fink made the most serious warning so far to business leaders regarding the climate crisis, saying it is an issue that must be addressed by everyone.

It may be more difficult than it seems for a company where nearly 70 percent of its US$7 (R$28) trillion in assets are in indexed products. Changing positions in these funds depend on what is included in the benchmarks determined by . . .

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