Larry Fink: Risks from climate change are bigger than the 2008 financial crisis with no Fed to save us

Larry Fink: Climate change risks are bigger than 2008 financial crisis — and no Fed to save us

in companies' long-term prospects … But awareness is rapidly changing, and I believe we are on the edge of a fundamental reshaping of finance."

BlackRock will put "sustainability at the center of our investment approach," he wrote, including everything from portfolio construction to launching new investment products that screen fossil fuels. "For now over eight years, I've been writing CEO letters about 'long-termism,'" Fink told CNBC. "Nothing could be more 'long-termism' than climate change."

"I believe in the science. But I did not write it as an environmentalist. I wrote the letter as a capitalist," he said. "My job is, as a capitalist, to help prepare our clients for the redistribution of capital. And more importantly, through that is to provide them with an investment portfolio that will outperform."

Fink's comments come as business leaders, policymakers and investors prepare to travel to Davos, Switzerland for the

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