Larry Fink’s promised “tectonic shift” in supportable contributing is well under way. BlackRock Inc. presently manages $509 billion in sustainable investments, beyond twofold from a year prior, the CEO told analysts Friday after the world’s greatest asset manager revealed fourth-quarter results. Europe, the Middle East and Africa represented close to 66% of streams, or $65 billion, into the items last year, Fink said, adding that cash managers need to react to sustainability worries to win investment mandates in the region.
Fink, 69, has positioned BlackRock as a leading advocate of investing with environmental, social and governance goals in mind. At the beginning of each year, he uses letters to corporate bosses to encourage greater efforts to combat climate change and reduce carbon emissions.
“Following a breakout in 2020, momentum in sustainable investments continued,” Fink said. “One of the biggest opportunities of this generation will be helping our clients navigate the transition to a net-zero economy.”
On Friday, Fink said there are big opportunities to invest in carbon sequestration and to work “side by side” with fossil-fuel companies to develop new technologies.
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