Extinction Rebellion activists protest on the Bank junction outside the Bank of America. Credit: David Cliff/SOPA Images/LightRocket via Getty Images It was only back in January when Larry Fink announced that the world’s largest asset manager was making the risks associated with climate change a central tenet of how it did business and suggested that the rest of the financial world do the same. "Climate change has become a defining factor in companies’ long-term prospects," wrote Fink, the founder and chief executive of Blackrock, which handles nearly $7 trillion in investments, in his annual letter to shareholders . "Awareness is rapidly changing, and I believe we are on the edge of a fundamental reshaping of finance." For those who had long been pressing investment banks and other asset managers to address their funding of the fossil fuel industry and other industries warming the climate, Blackrock’s announcement was a long-awaited and hard-fought victory. It signaled, advocacy groups said, that Wall Street’s elite were finally taking climate change seriously after more than a decade of pressure to do so. So when the coronavirus pandemic hit less than two months later and all but derailed the global economy, many analysts expected the […]

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.