Can Corporations Stop Climate Change?

The Daily

The New York Times

Daily News, News

4.4 • 102.8K Ratings

🗓️ 24 February 2020

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

In recent weeks, several of the largest and most profitable American companies have introduced elaborate plans to combat climate change. So why are they doing it now? And just how meaningful are their plans? Guest: Andrew Ross Sorkin, a financial columnist for The New York Times. For more information on today’s episode, visit nytimes.com/thedaily. Background reading: Laurence D. Fink, the founder of the world’s largest asset management company, sparked the shift toward climate-focused corporate policies in his annual letter to C.E.O.’s. Here’s what the letter said, and why it matters.Protecting the environment and tackling climate change have climbed the list of Americans’ political priorities this year as economic concerns have faded. But the issue is as partisan as ever.

Transcript

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0:25.6	From the New York Times, unlike a bubbarrow, this is the Daily.
0:40.2	Today, over the past few weeks, several of America's largest and most profitable companies
0:47.7	have unveiled elaborate plans to combat climate change.
0:52.5	Andrew Rossorca on why they're doing it now and just how meaningful the plans really
0:59.3	are.
1:00.6	Plus, the results of the Nevada caucuses.
1:07.7	It's Monday, February 24th.
1:21.8	Andrew, tell me about this letter.
1:24.1	So every year, usually the second or third week of January, Larry Fink, who runs BlackRock,
1:31.5	which is the largest money manager in the world.
1:34.7	They oversee $7 trillion.
1:38.6	That's with a T.
1:40.4	Basically 401k plans, pension plans, all of that money lives under BlackRock.
1:48.0	So Larry Fink has huge influence and he writes a letter every January to the CEOs of the
1:56.0	world.
	...

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