World’s largest asset manager shifts focus to climate change
|Toronto Star 14 Jan 2020 at 08:45|
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.