Climate, warning from finance guru Larry Fink: governments intervene alongside businesses – RB

Climate, warning from finance guru Larry Fink: governments intervene alongside businesses – RB

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Clima , warning from finance guru Larry Fink: governments intervene alongside businesses – RB

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Climate, warning from finance guru Larry Fink: governments intervene alongside businesses – RB

“Divestment from entire sectors – or, simply, the shift of carbon-intensive activities from public to private markets – will not translate into achieving the net zero emissions goal.” A position that assumes a certain importance if it is expressed by the number one of the largest investment bank in the world. “Capitalism has the power to shape society and act as a powerful catalyst for change. But companies can’t do it alone and they can’t be the climate police, ”said Larry Fink, CEO of Blackrock, in his usual letter to CEOs. Fink in his annual message underlined that it is the government’s job to establish sustainability requirements and regulations and called on the public sector to play its part in the partnership with the private sector.

“Most stakeholders – from shareholders, to employees, to customers, to communities and regulators – now expect businesses to each play their part in taking part in the decarbonisation process of the global economy. Few things will impact your capital allocation decisions – and, therefore, your company’s long-term value – more than how effectively you manage the global energy transition over the next few years, ”Fink wrote.

“It’s been two years since I wrote that climate risk is an investment risk – recalled the CEO of Blackrock -. And, in this short period, we have witnessed an epochal shift in capital. Sustainable investments have now reached $ 4 trillion. Actions and ambitions in favor of decarbonisation have also increased. This is just the beginning: the massive shift towards sustainable investments is still accelerating ”

“We need governments to provide clear pathways and a consistent taxonomy for sustainability policy, regulation and disclosure in markets. They also need to support transition-affected communities, help catalyze capital for emerging markets, and invest in innovation and technology that will be essential to decarbonise the global economy. which led to the development of COVID vaccines – 19 in record time. When we harness the power of the public and private sectors, we can achieve truly amazing things. This is what we need to do to achieve a zero-emission economy “.