LONDON/BOSTON: Larry Fink, chief executive of the world's biggest asset manager BlackRock, warned the companies it invests in on Tuesday they will need to show a game plan for surviving in a world aiming for net-zero carbon emissions by mid-century.
With US$8.7 trillion in assets under management, mainly in passive funds, BlackRock has a significant stake in most large U.S. corporations and in many in other countries, giving it much influence over their decisions. Methodologies for measuring temperature alignment are constantly evolving, based on new research and data specific to particular sectors and regions, Fink said in his letter.
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