BlackRock’s Larry Fink wants companies to eliminate greenhouse gas emissions by 2050

BlackRock's Larry Fink wants companies to eliminate greenhouse gas emissions by 2050

In his highly influential role with CEOs, BlackRock CEO Larry Fink laid out an ambitious plan to tackle climate change by pushing companies to make explicit plans for how their businesses will survive as the global economy continues to grow. strives to eliminate greenhouse gas emissions by 2050. “I believe the pandemic has presented such an existential crisis – such a stark reminder of our fragility – that it has pushed us to confront the threat global climate change with more force and to think about how, like the pandemic, it will change our lives, ”Fink wrote. . This is what BlackRock oversees, making it the world’s largest asset manager. The fact that these assets, which make BlackRock “arguably the most powerful investor in the world,” mean Fink’s letter could have a major impact on corporate behavior in the months to come. President Joe Biden has joined the Paris Climate Agreement – an agreement adopted by nearly 200 countries in 2015 aimed at reducing the effects of climate change – as one of his first acts after taking office last week and the announcement on Wednesday as part of its climate change program. This is a major change from the Trump administration, which in four years rolled back 112 environmental rules, the. Renewed federal focus on climate change means businesses may soon be subject to new rules and regulations, and in his letter Fink suggested they “act quickly” to improve and release sustainability disclosures before federal regulators do not force the problem.

Highlights

  • According to Forbes, “BlackRock’s Larry Fink wants companies to eliminate greenhouse gas emissions by 2050.”
  • “I believe the pandemic presented such an existential crisis – such a stark reminder of our fragility – that it has prompted us to face the global threat of climate change more aggressively and to think about how, like the pandemic, it will change our lives. Fink wrote.

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