He serves as a member of the Board of Trustees of New York University (NYU) and the World Economic Forum, and is Co-Chairman of the NYU Langone Medical Center Board of Trustees. Fink was a member of the Management Committee and a Managing Director of The First Boston Corporation. BlackRock's mission is to help our clients build better financial futures and the firm is trusted to manage more money than any other investment company in the world. He and seven partners founded BlackRock in 1988, and under his leadership, the firm has grown into a global leader in investment and technology solutions. Fink is Chairman and Chief Executive Officer of BlackRock. They actually have some of the greatest scientists in this business, and it’s going to be those companies that are probably going to create the best alternatives, like green hydrogen.Laurence D. It is urgent that we have conversations with the most traditional hydrocarbon companies and work with them. Maybe we could create a good bank-bad bank, like we’ve done in financial services for traditional companies. Maybe we could create a liquidating trust of the hydrocarbons managed by those traditional companies. We need holistic solutions with government, with investors, and with companies in order to evolve. Hydrocarbon Companies Must Be Part of the Solution The net-carbon footprint of the world does not change. It is a form of greenwashing if the traditional companies sell off their hydrocarbons or the worst-offending assets to some private equity firm. Through analytics and modeling, we can create a hybrid portfolio that closely mimics an S&P or a Russell index, and we will be able to eliminate 10% to 40% of the worst offenders in the S&P. We’re going to create more customized portfolios. I do believe that in the next five years, we’re going to create more sustainable strategies. So, this tectonic shift of capital is just beginning.įor the companies that BCG is advising on transition risk, if they’re not moving fast enough, and another company in their industry is moving faster, they’re going to have outflows in their ownership-and the outflow is going to go into a company in their same industry that is moving faster. We have seen billions and billions of dollars moving into more sustainable strategies. I can see a world in five years where ESG is integrated into every asset class and everything we do. Here, Fink talks about the future of sustainable investing, the role of investors in catalyzing better ESG outcomes, and how the climate crisis is fundamentally reshaping his firm’s approach to asset management. Fink is convinced that these companies will be better positioned to deliver long-term returns to their shareholders-including BlackRock’s clients. BlackRock is investing in companies that integrate sustainability into their business strategy. Larry Fink, chairman and CEO of BlackRock, the world’s largest asset manager, is putting this theory of change into action. Some of the most influential institutional investors and asset managers are at the forefront of a powerful movement to integrate environmental, social, and governance (ESG) considerations in their investment decisions.Īt BCG, our theory of change holds that the private sector can act as a powerful agent in solving global problems-and investors can play a critical role by directing investments to companies that demonstrate ESG leadership. Technology, Media, and Telecommunications.
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