The World’s Biggest Capitalist Says Climate Is ‘Reshaping Finance’
Energy Gang
Wood Mackenzie
4.6 • 1.3K Ratings
🗓️ 17 January 2020
⏱️ 50 minutes
🧾️ Download transcript
Summary
The world’s largest asset manager, BlackRock, is suddenly putting sustainability and climate risk at the center of its investment strategy.
“Investors are increasingly...recognizing that climate risk is investment risk. These questions are driving a profound reassessment of risk and asset values. And because capital markets pull future risk forward, we will see changes in capital allocation more quickly than we see changes to the climate itself,” wrote BlackRock CEO Larry Fink in his yearly investment letter.
BlackRock manages over $7 trillion in assets. This new strategy could have a wide impact on the world of finance -- and put climate risk at the top of investor considerations.
Plus, activists are targeting banks like Chase and Citibank by hitting them on the consumer finance side. We check in on the divestment movement as it gains momentum.
Then, a look at some lesser-known, but formidable greenhouse gases: refrigerants. How much a problem are they?
Finally, California looks beyond lithium-ion batteries. The state is looking to fund the next ideas in energy storage. What are those technologies and how will they be deployed?
Resources:
- New York Times: BlackRock C.E.O. Larry Fink: Climate Crisis Will Reshape Finance
- Listen to the Climate 2020 podcast interview with Bill McKibben
- Bill McKibben in NYT: Want to Do Something About Climate? Follow the Money
- E&E News: Senators Float HFC Phase-Down Bill
- GreenBiz: Why Supermarkets are Key to a Cooler Climate
- Utility Dive: California Is Looking for Better Storage
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Transcript
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| 0:37.2 | We're also brought to you by Core Power. |
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| 1:02.3 | and helps lower installation and operation costs. offers market leading energy density and Core Power.com. That is K-O. Weekly debates and discussions on the fast-changing |
| 1:27.3 | world of energy. I'm Stephen Lacy in Boston. Welcome to the show. This week the moment when climate damage collided with corporate accounting. |
| 1:36.5 | The world's largest asset manager Black Rock signed on to a climate pressure group saying that |
| 1:41.1 | climate change is reshaping finance and it plans to put |
| 1:43.8 | sustainability and climate risk at the center of its investment strategy. |
| 1:47.2 | Plus activists are targeting banks like Chase and Citibank to hit them on the |
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