Summary List Placement
BlackRock Chief Executive Larry Fink renewed his call for companies to disclose so-called net-zero plans and other sustainability-linked data in his annual, influential letter to shareholders on Wednesday.
Fink, who leads the world’s largest asset manager and has become a fixture of the sustainable-investing movement in recent years, called on the government to help assist a transition to a net-zero economy and emphasized a call for private companies’ disclosures alongside public ones.
“If large private companies are not held to the same level of scrutiny as public companies, we will create an unintended incentive to shift carbon-intensive assets to markets with less transparency and, often, less regulation,” Fink wrote. “This might make public companies look better but will do nothing to advance us toward a net-zero economy by 2050.”
Shifting to a “net-zero” economy implies reducing human-caused greenhouse gas emissions in the atmosphere to help stave off impacts climate scientists expect as a result of global warming. As corporations in financial services and beyond face growing pressure from investors, activists, regulators, and a new generation that prizes environmental protection and transparency, they have started to respond with a fresh wave of commitments. That includes showing how their business …read more
Source:: Businessinsider – Finance