BlackRock CEO says the climate crisis is about to trigger 'a fundamental reshaping of finance'

The world's largest money manager believes the intensifying climate crisis will bring about a fundamental reshaping of finance.

In an annual letter to CEOs published Tuesday, BlackRock chief executive Larry Fink said: "Climate change has become a defining factor in companies' long-term prospects.

"But awareness is rapidly changing, and I believe we are on the edge of a fundamental reshaping of finance," he added. Larry Fink, chief executive officer of BlackRock Inc., pauses ahead of a Bloomberg Television interview at the Blackrock Inc. wealth symposium in Zurich, Switzerland, on Thursday, March 7, 2019The chief of the world's largest money manager believes the intensifying climate crisis will bring about a fundamental reshaping of finance, with a significant reallocation of capital set to take place "sooner than most anticipate.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CNBC /  🏆 12. in US

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

No More Partying At McDonald’s, According To New CEOMcDonald’s new chief executive, Chris Kempczinski, is trying to change what has been described as a “macho, guys club” corporate culture at McDonald’s.
Read more »

Siemens will back controversial Australian coal project: CEOGerman engineering group Siemens said on Sunday it will fulfil its contractual o...
Read more »

Prince Harry Talks About Meghan With Disney CEO in Resurfaced VideoAfter Prince Harry and Meghan Markle's recent shocking announcement about stepping down as senior royals, it was reported that she had previously signed a voiceover deal with Disney.
Read more »

Why Bill Gates' net worth is so high 20 years since stepping down as Microsoft CEOOn the rich list, he is second only to Jeff Bezos. So, after distilling a Microsoft stake and donating billions to charity, it begs the question: how on earth is Gates maintaining that vast fortune?
Read more »

Standard Chartered CEO says the global economy is inching back to 'normal'Bill Winters said the U.S. and China have returned to 'proper dialogue' to iron out their trade conflict, while disruption from pro-democracy protests in Hong Kong looked to be subsiding with early signs of tourists returning to the city.
Read more »