BlackRock – Climate Change is a concern for everyone
BlackRock is the largest asset management company in the world with around $7Tn (seven trillion US dollars) under its management – in a recent open letter chief executive Larry Fink reported that they were interested in long-term investment and that meant do the right thing for the long term. BlackRock were not interested in short-term profit taking as this has proven over time to far from maximise shareholders returns, to do the opposite. BlackRock likes to minimise risk and in 2020 that means climate change is a real issue and and they are looking to invest in companies which are taking their responsibility to reduce carbon emissions seriously.
Turns out that despite what activists thinks capitalists are keen on saving the planet – because it is good for profits. One only has to look at electric car maker Tesla’s share price and contrast that with ICE vehicle manufacturers.