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World’s largest asset manager shifts focus to climate change

World’s largest asset manager shifts focus to climate change
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NEW YORK - BlackRock, the world’s largest asset manager, will make climate change central to its investment decisions going forward.

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 it will affect everything from municipal bonds to long-term mortgages for homes.
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