Finance
Fink Demands Net-Zero Disclosure as Climate Push Strengthens
- CEO says pandemic has ‘driven us to confront’ global threat
- Activists have accused asset manager of not going far enough
Larry Fink, chief executive officer of BlackRock Inc.
Photographer: Bloomberg
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BlackRock Inc. Chief Executive Officer Larry Fink escalated his call for corporate leaders to focus on the environment in the wake of the Covid-19 crisis, and pledged new measures to address climate change.
Companies should disclose plans for how their business models will be compatible with a net-zero economy by 2050, Fink said in his annual letter to CEOs Tuesday. Drawing parallels between the deadly consequences of the pandemic and the effects of global warming, Fink wrote that positioning for the long term means preparing for the realities of climate change.