BHP - How Big a Deal Is BlackRock's Sustainable-Investing Push?
For years, BlackRock (NYSE: BLK) CEO Larry Fink has used his annual letter to CEOs to tout the importance of social progress and challenge shortsighted businesses and governments that just focus on profitability. This year's letter made waves because he's finally putting his money where his mouth is by introducing some concrete steps in response to climate change.
In sum, Fink's letter said that climate change creates direct financial risks and that portfolios need to be adjusted to account for them. This is obviously a big job to tackle. However, if some of these steps are fully embraced and enforced, they have the potential for tremendous social and environmental impact.
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