Climate Changed
BlackRock Wields Its $6 Trillion Club to Combat Climate Risks
- Seeks reporting in line with FSB task-force recommendations
- Asks oil, transport, industrial companies to detail dangers
This article is for subscribers only.
BlackRock Inc., the world’s biggest asset manager, is telling companies that now is the time to start reporting clear information on climate risk to their businesses.
The firm, which oversees almost $6 trillion in assets, sent letters from its corporate-governance team to about 120 companies this week, urging them to report climate dangers in line with the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures, set up by Bank of England Governor Mark Carney.