BlackRock’s Larry Fink may believe that greater demand for sustainable investing leaves Wall Street “on the edge of a fundamental reshaping of finance,” but advocates say it’s a hollow prediction absent bigger moves by the world’s largest fund firm to unwind its fossil-fuel exposure.
Other observers noted a “materially different” annual letter to chief executives from Fink, the chairman and CEO, compared with his stance only one year earlier. Sooner rather than later, Fink said, sustainable investments that take into account climate change will deliver better returns.
