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Bloomberg New Economy: Wall Street, Washington Go Green Together

RF wind turbine climate green
Source: franckreporter/Getty Images

In a week when the crazy hijinks of day-traders networking on Reddit grabbed headlines, a major development in what’s shaping up as the biggest business story of our time didn’t get nearly the attention it deserved. In a nutshell: Wall Street and Washington have just aligned on an ambitious green agenda.

Larry Fink, the CEO of BlackRock, which oversees $8 trillion in assets, announced he would start pushing companies to publish their plans to eliminate greenhouse gases by 2050. The billionaire hedge-fund manager, Christopher Hohn, is going one step further. He’s funding a campaign to force the world’s biggest listed companies to reveal their emissions plans, if necessary by proxy battles at annual shareholder meetings.