BlackRock sets a precedent with move to sustainable greener future
Asset manager’s decision to divest from thermal coal and incorporate climate risks into its practices sends a message to global firms
09 February 2020 - 20:46
Ring the alarm! Climate risk to the financial system has gone mainstream and there is no going back. Banks, asset managers, and insurers can no longer sit back but will have to take active steps to address climate risks in their balance sheets.
Regulators are sitting up all over the world especially after the catastrophic bushfires in Australia and BlackRock’s landmark decision to incorporate climate risks into its business practices. One cannot afford to take a sit-and-wait approach any more considering what is happening in Australia and other parts of the world...
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