BlackRock, Morgan Stanley to utilities: Tackle climate-related risks or lose market value
Publish Date: 4/6/2020
News Source: Utility Dive
“The evidence on climate risk is compelling investors to reassess core assumptions about modern finance” because they see that “climate risk is investment risk,” CEO Larry Fink of BlackRock, the world’s biggest asset manager, wrote in January.” … As a result of a “profound reassessment of risk and asset values” in a changing climate, “there will be a significant reallocation of capital by investors,” Fink wrote in his annual letter to CEOs.”
