He may be late, but better that versus never. Investing with consideration for the environment seemed obvious long ago to some, but not to the decision-makers who most count–those whose investment decisions impact generations to come. Presumably, from the size of fund he manages, one of the most respected investors has decided to do the right thing as best he can, and that may be huge:
In his influential annual letter to chief executives, Larry Fink said his firm would avoid investments in companies that “present a high sustainability-related risk.”
Laurence D. Fink, the founder and chief executive of BlackRock, plans to announce Tuesday that his firm will make investment decisions with environmental sustainability as a core goal.
BlackRock is the largest in its field, with nearly $7 trillion under management, and this move will fundamentally shift its investing policy — and could reshape how corporate America does business and put pressure on other large money managers to follow suit. Continue reading