An annual letter to investors sent by Larry Fink, the chief executive of asset manager BlackRock, says that climate change will lead to a fundamental reshaping of finance. The firm is the world’s largest asset manager, with $7tn under management.
In the letter, Fink said that a significant reallocation of capital will take place sooner than most anticipated and that BlackRock plans to make climate change central to its own investment decisions backed by immediate actions.
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