BlackRock Shakes Up Sustainable Investing Business Following Criticism
14 Enero 2020 - 5:51AM
Noticias Dow Jones
By Julie Steinberg
Investment giant BlackRock Inc. announced a series of moves
Tuesday to address risks related to climate change, following
criticism from investors and advocacy groups for investing in
fossil fuels and allegedly being slow to act on green issues.
The world's largest money manager, with around $7 trillion in
assets under management, will expand its range of sustainable
investment products and disclose more details of its climate-change
conversations with the companies in which it invests.
The firm said it would assess environmental, social and
governance, or ESG, factors with the same rigor as liquidity and
credit risk. It said it was exiting investments in companies that
generate more than 25% of their revenues from thermal coal
production, and doubling its ESG exchange-traded funds to 150.
"Climate change has become a defining factor in companies'
long-term prospects," BlackRock Chief Executive Laurence Fink said
in this year's annual letter to the CEOs of companies in which the
firm invests.
The moves follow BlackRock's announcement last week that it had
joined Climate Action 100+, the world's largest group of investors
by assets pressuring companies to act on climate change.
Write to Julie Steinberg at julie.steinberg@wsj.com
(END) Dow Jones Newswires
January 14, 2020 06:36 ET (11:36 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
BlackRock (NYSE:BLK)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
BlackRock (NYSE:BLK)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
