BlackRock now needs to use its voting clout to fuel sustainable investing

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It’s good news the world’s largest asset manager aims to change how it invests but actions will speak louder than words

BlackRock’s conversion to sustainable investing comes late in the day and may have been motivated, in part, by founder and chief executive Larry Fink’s fear that the “greenwasher” label would stick. Activists were banging on BlackRock’s door. Fink’s treaties on the importance of companies having a “purpose” had become tired. Even some clients were saying BlackRock’s claim to be “engaging” on climate issues was feeble.

 

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