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Larry Fink Defends BlackRock’s New Emphasis on Climate Change. What Investors Need to Know.
Barron's ^ | 1/17/20 | Leslie P. Norton

Posted on 01/17/2020 6:50:05 PM PST by Libloather

Larry Fink’s recent letters to CEOs and investors were certain to press buttons, because they dealt with BlackRock’s plans to address climate change.

Yet the reactions, Fink tells Barron’s, have been positive even as climate change has become a political football. “I received one of the great letters of my career from a client in a red state,” says the CEO of BlackRock (ticker: BLK). “This client was very thankful. This client said, ‘We have a 10- to 20-year investment horizon. We now need to look at how we think about investing.’ ”

BlackRock puts climate-risk analysis at the heart of its investing process and gives a huge boost to sustainable investing. The world’s largest asset manager aims to double to 150 the number of ESG exchange-traded funds that it offers around the world. BlackRock will also push companies to report on sustainability metrics and vote against managements that do not make sustainability disclosures.

“In the next five years, ESG will be one of the key lenses for how investors look at everything, from corporate to country to municipal,” Fink says. BlackRock also plans to withdraw from big thermal-coal producers in its active funds.

(Excerpt) Read more at barrons.com ...


TOPICS: Crime/Corruption; Editorial; Government; News/Current Events
KEYWORDS: blackrock; climatechange; coal; fake; fakescience; fink; fraud; globalwarming; hedgefunds; hoax; larryfink; scam; venturecapital
Scamming the scammers?
1 posted on 01/17/2020 6:50:05 PM PST by Libloather
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To: Libloather

Hedge fund locusts smell a huge new pile of cash to be provided by government for connected people saying the right slogans.


2 posted on 01/17/2020 6:54:23 PM PST by PGR88
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To: Libloather

So this clown is claiming just because he got a “letter” from some idiot from a red state, then ALL red staters think it’s ok to worship Gaia..


3 posted on 01/17/2020 7:17:29 PM PST by max americana (Fired ONE libtard at work at every election since 2008 because I enjoy them crying)
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To: Libloather
The only thing that bothers me about climate change, is do I bring an umbrella or not? Are my gloves available? Which hat should I bring?

The rest is hot air.

4 posted on 01/17/2020 7:19:39 PM PST by roadcat
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To: Libloather

Shame. Blackrock has had some excellent funds.


5 posted on 01/17/2020 7:28:21 PM PST by Still Thinking (Freedom is NOT a loophole!)
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To: roadcat

Yes, but that’s just the point. Hour air is bad because, reasons!


6 posted on 01/17/2020 7:29:29 PM PST by Still Thinking (Freedom is NOT a loophole!)
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To: roadcat

Think snow shovel...


7 posted on 01/17/2020 9:15:35 PM PST by Paladin2
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To: Libloather

blackrock has jumped the shark...


8 posted on 01/17/2020 9:16:34 PM PST by mo ("If you understand, no explanation is needed; if you don't understand, no explanation is possible")
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To: Paladin2
It almost never snows where I live, so no snow shovel to worry about. We got some hail yesterday, but it melted away after a few minutes. SF Bay and Pacific Ocean water levels are same as they were 50 years ago. Same goes for weather here. No global warming. Just normal cycles of mild cold weather and mild warm weather, normal cycles of rainy weather and dry weather. No human caused weather happening here.

Regarding investments, we will need oil and coal long after I die. Can't get building materials from solar or wind resources; such as plastics, asphalt, paints, solvents, lubricants, fertilizers, transport fuels (especially planes and 'copters), etc. I'd say continue investing in oil and coal production.

9 posted on 01/17/2020 9:42:37 PM PST by roadcat
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To: roadcat

Global cooling is coming.

Fortunately we have plenty of tech to keep drilling where it is quite cold and icy.

Petrochemicals will continue to be a large part of the Economy for Decades if not Centuries to come.


10 posted on 01/17/2020 9:48:13 PM PST by Paladin2
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To: Still Thinking

I’m gonna sell my stock. Have lost faith in Blackrock as a rationally led investment firm. Coal may no longer be King but it’s still in the King’s Court. Europe needs energy that is not dependent on the new Soviet Union of Putin or the “Silk Road to Invasion” of Red China.


11 posted on 01/17/2020 10:47:44 PM PST by MadMax, the Grinning Reaper (Figures)
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To: MadMax, the Grinning Reaper

Wiki:
Fink has been married to his wife, Lori, since the mid-1970s. The couple own homes in Manhattan, North Salem, and Vail, Colorado. The couple have three children. Joshua, their eldest son, was CEO of Enso Capital, a now defunct hedge fund in which Fink had a stake. Fink is a lifelong supporter of the Democratic Party.


12 posted on 01/18/2020 4:42:44 AM PST by Bookshelf
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To: Libloather

What in the world is an ESG? The article does not define it (poor journalism) and I have never heard of the term before? Can a brethren freeper help me out on this one?


13 posted on 01/18/2020 5:01:10 AM PST by Sir_Humphrey (Strong minds discuss ideas, average minds discuss events, weak minds discuss people -Socrates)
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To: Libloather

As I told my stockbroker yesterday, any companies that will be doing a hoax on the stockholders (who are the owners) is not what I want to invest in. He agreed.


14 posted on 01/18/2020 5:39:01 AM PST by Deplorable American1776 (Proud to be a DeplorableAmerican with a Deplorable Family...even the dog is, too. :-))
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To: Sir_Humphrey
...What in the world is an ESG?...

ESG investing researches Environmental, Social and Governance issues as well as the traditional financial information.

In other words, it adds irrelevant factors into evaluation of investments and will therefore produce lower returns. Look at the historical performance of the investment vehicles which avoided "sin" companies. Mostly alcohol and tobacco.

15 posted on 01/18/2020 6:30:54 AM PST by CurlyDave
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To: Libloather

Seems to me that any investment firm that would back so-called “sustainainable energy” either hasn’t yet learned to read & understand or is counting on their investors not having achieved it.


16 posted on 01/18/2020 8:47:20 AM PST by oldtech
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