Posted on 01/17/2020 6:50:05 PM PST by Libloather
Larry Fink’s recent letters to CEOs and investors were certain to press buttons, because they dealt with BlackRock’s plans to address climate change.
Yet the reactions, Fink tells Barron’s, have been positive even as climate change has become a political football. “I received one of the great letters of my career from a client in a red state,” says the CEO of BlackRock (ticker: BLK). “This client was very thankful. This client said, ‘We have a 10- to 20-year investment horizon. We now need to look at how we think about investing.’ ”
BlackRock puts climate-risk analysis at the heart of its investing process and gives a huge boost to sustainable investing. The world’s largest asset manager aims to double to 150 the number of ESG exchange-traded funds that it offers around the world. BlackRock will also push companies to report on sustainability metrics and vote against managements that do not make sustainability disclosures.
“In the next five years, ESG will be one of the key lenses for how investors look at everything, from corporate to country to municipal,” Fink says. BlackRock also plans to withdraw from big thermal-coal producers in its active funds.
(Excerpt) Read more at barrons.com ...
Hedge fund locusts smell a huge new pile of cash to be provided by government for connected people saying the right slogans.
So this clown is claiming just because he got a “letter” from some idiot from a red state, then ALL red staters think it’s ok to worship Gaia..
The rest is hot air.
Shame. Blackrock has had some excellent funds.
Yes, but that’s just the point. Hour air is bad because, reasons!
Think snow shovel...
blackrock has jumped the shark...
Regarding investments, we will need oil and coal long after I die. Can't get building materials from solar or wind resources; such as plastics, asphalt, paints, solvents, lubricants, fertilizers, transport fuels (especially planes and 'copters), etc. I'd say continue investing in oil and coal production.
Global cooling is coming.
Fortunately we have plenty of tech to keep drilling where it is quite cold and icy.
Petrochemicals will continue to be a large part of the Economy for Decades if not Centuries to come.
I’m gonna sell my stock. Have lost faith in Blackrock as a rationally led investment firm. Coal may no longer be King but it’s still in the King’s Court. Europe needs energy that is not dependent on the new Soviet Union of Putin or the “Silk Road to Invasion” of Red China.
Wiki:
Fink has been married to his wife, Lori, since the mid-1970s. The couple own homes in Manhattan, North Salem, and Vail, Colorado. The couple have three children. Joshua, their eldest son, was CEO of Enso Capital, a now defunct hedge fund in which Fink had a stake. Fink is a lifelong supporter of the Democratic Party.
What in the world is an ESG? The article does not define it (poor journalism) and I have never heard of the term before? Can a brethren freeper help me out on this one?
As I told my stockbroker yesterday, any companies that will be doing a hoax on the stockholders (who are the owners) is not what I want to invest in. He agreed.
ESG investing researches Environmental, Social and Governance issues as well as the traditional financial information.
In other words, it adds irrelevant factors into evaluation of investments and will therefore produce lower returns. Look at the historical performance of the investment vehicles which avoided "sin" companies. Mostly alcohol and tobacco.
Seems to me that any investment firm that would back so-called “sustainainable energy” either hasn’t yet learned to read & understand or is counting on their investors not having achieved it.
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