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Largest asset manager in the world is partially banning coal

2020-01-14T11:53:28.957Z

BlackRock, the largest asset manager in the world, wants to invest greener. Investments in coal are therefore partially banned. Director Larry Fink writes this in his annual letter to chairmen of the world.



BlackRock, the largest asset manager in the world, wants to invest greener. Investments in coal are therefore partially banned. Director Larry Fink writes this in his annual letter to chairmen of the world.

With this decision BlackRock becomes stricter for companies that do not explain how they deal with climate change.

With nearly $ 7,000 billion ($ 6,290 billion), the American company is by far the largest investor in the world. The decision is therefore expected to have consequences for the rest of the industry.

BlackRock was previously under attack for its often wait-and-see attitude in the field of sustainability. Analyzes of voting behavior at shareholder meetings show that in only a small proportion of cases the company favors proposals on the environment. With this letter BlackRock wants to send another signal to the outside world.

Source: nunl

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