What’s good enough for BlackRock’s clients should be good enough for the American taxpayer.
sent a letter
The senators’ letter pointed to the headline-dominating news from January that BlackRock intends to include the assessment of climate-related risks in its investment strategies going forward. Larry Fink, BlackRock’s CEO,that “climate risk is investment risk,” a fact that “markets to date have been slower to reflect.
The senators, however, want the Fed to “emphasize that, in carrying out its fiduciary duties … BlackRock must act without regard to [climate-related divestment] or other investment policies BlackRock has adopted for its own funds.” This requirement may help secure extra financial support for fossil fuel companies. It will also likely harm the country’s financial standing.
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