BlackRock to exit investments with sustainability risk – The National

BlackRock to exit investments with sustainability risk – The National

Founder of the world's biggest money manager says sustainability will be at the heart of future investment strategy. BlackRock's chief executive Larry Fink is exiting some of the investments carrying sustainability risks and said the environment will be at the core of all new investments by the world's biggest asset manager.. Mr Fink indicated the fundamental shift in his firm's investment policy in his 2020 letter to chief executives of some of the largest global corporations.. The annual communication from the founder of the New York-based asset management firm will put pressure on other global money managers to adopt ethical investment policies.. Climate change has become a defining factor in companies' long-term prospects and "climate risk is investment risk", he said.. Mr Fink is addressing climate change as money managers come under increased scrutiny for their investment practices.. But there is no denying the direction we are heading," Mr Fink said. ". All investors, along with regulators, insurers, and the public, need a clearer picture of how companies are managing sustainability-related questions, Mr Fink said.. Each company's prospects for growth are inextricable from its ability to operate sustainably and serve its full set of stakeholders.. "We believe that when a