Blackrock threatens to divest non-net-zero firms

BlackRock has reported to investors that it has met its target of having all of its active and advisory portfolios ESG-integrated.

Following last year’s pledge of “making sustainability our new standard for investing” it has reported on progress that includes the above goal, the Aladdin Climate data and analytics system and intensified stewardship with nearly a hundred new sustainable funds.

The company has also threatened to divest from polluting firms unless they can demonstrate a plan to reach net-zero emissions by 2050.

Larry Fink in his annual letter to corporate CEOs has also noted that the pandemic was expected to create a flight back to traditional investment, but that “the opposite took place, and the reallocation of capital accelerated even faster than I anticipated”.

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