In the letter, he asked governments to provide clear pathways and a consistent taxonomy for sustainability policy, regulation, and disclosure across markets. “It’s also why we ask you to issue reports consistent with the Task Force on Climate-related Financial Disclosures (TCFD): because we believe these are essential tools for understanding a company’s ability to adapt for the future.”ĭivesting from entire sectors or shifting carbon-intensive assets from public to private markets will not get the world to net zero, he added.īlackRock does not pursue divestment from oil and gas companies as a policy, though some of the asset manager’s clients do choose to divest.įink noted that foresighted companies across a range of carbon-intensive sectors will be a critical part of decarbonisation, while companies leading the transition present a vital investment opportunity for clients and driving capitals towards these firms will be essential to achieving net zero. On January 26, 2021, BlackRock released its annual Letter to CEOs, which is also commonly referred to as the Fink Letter. Most recently, Larry Fink, founder of investment management giant BlackRock, wrote in his 2018 letter to chief executive officers that to prosper over time. In his annual 2022 letter to CEOs, BlackRocks Larry Fink discusses how effective stakeholder capitalism creates and sustains value for shareholders. “These targets, and the quality of plans to meet them, are critical to the long-term economic interests of your shareholders,” said Fink. The focus on sustainability stems from companies’ roles as capitalists and fiduciaries to clients, rather than environmentalists, said Fink.Īs a result, BlackRock is asking companies to set short, medium, and long-term targets for greenhouse gas reductions. We remain focused on understanding how changes will impact our. ![]() He added that the most successful start-ups are those that will help the world decarbonise and make the energy transition affordable for all consumers. BlackRock is working with our clients to navigate this new investment environment, including understanding and addressing what long-term structural changes such as deglobalization, inflation and the energy transition mean for companies, valuations and our clients’ portfolios. BlackRock vows to divest from climate change laggardsįink said more money will be poured into sustainable investing in the coming years, ranging from capital into new ventures focused on energy innovation, or transferring from traditional indexes into more customised portfolios and products.
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