Blackrock to shun polluters in fight against climate change
Major US asset manager Blackrock means to give up investments with "sustainability-related risk" and launch new products to screen fossil fuels, the firm's CEO writes in an annual letter to executives. The firm entered the Climate Action 100+ group last week, joining hundreds of investment managers in pressuring GHG emitters to reduce their climate footprints.
BY ANNIE MASSA, BLOOMBERG
Blackrock Inc. will ditch investments with high sustainability-related risk as climate concerns drive a sweeping change in the way the world’s largest asset manager invests its USD 7 trillion in assets.
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