In his annual letter to business leaders, the boss of the world’s largest asset manager made it clear: “We focus on sustainability not because we are environmentalists, but because we are employers.”
“Capitalism is not about politics.” His Annual letter to business leaders, The boss of BlackRock, the world’s largest asset manager, explains why the green economy is exploding.
Government pressure, climate emergency? “We focus on sustainability not because we are environmentalists, but because we are employers,” said Larry Fink.
And Hammer: “This is not a social or ideological project. This is not voodoo, this is capitalism.”
A way for the financier to clarify things when his company is undergoing a major green change. According to many charities, including the highly influential Sierra Club, there are not enough good intentions.
“While we welcome the clear progress BlackRock has made in its directorial strategy and transparency, it has not yet moved fast enough to make a real impact on the worsening climate crisis,” he explained. His campaign manager was Ben Cushing last year.
There are assets worth Rs 10 lakh crore
Today, the manager does not want to put all the polluting activities behind him. “Excluding investment from the entire sector (…) will not bring the world to net zero,” explains Larry Fink, who refuses to withdraw from the oil and gas companies altogether.
According to the quarterly and annual results released by the US company on Friday, the volume of assets managed by BlackRock reached a record high of over $ 10 trillion by the end of 2021.
The group’s turnover for its part was shown to be close to the analysts’ estimates. It reached $ 5.1 billion in the last quarter of 2021 and $ 19.4 billion for the year as a whole.