‘BlackRock C.E.O. Larry Fink: Climate Crisis Will Reshape Finance’

Andrew Ross Sorkin at the NYTimes:

Laurence D. Fink, the founder and chief executive of BlackRock, announced Tuesday that his firm would make investment decisions with environmental sustainability as a core goal.

BlackRock is the world’s largest asset manager with nearly $7 trillion in investments, and this move will fundamentally shift its investing policy — and could reshape how corporate America does business and put pressure on other large money managers to follow suit.


The firm, he wrote, would also introduce new funds that shun fossil fuel-oriented stocks, move more aggressively to vote against management teams that are not making progress on sustainability, and press companies to disclose plans “for operating under a scenario where the Paris Agreement’s goal of limiting global warming to less than two degrees is fully realized.”

Something like this could radically grow companies with a focus on vegan products. If they’re looking to have an effect on climate change, it’s an easy step to expand plant-based line-ups.