BlackRock Wields Its $6 Trillion Club to Combat Climate Risks – Bloomberg

BlackRock Inc., the world’s biggest asset manager, is telling companies that now is the time to start reporting clear information on climate risk to their businesses.

The firm, which oversees almost $6 trillion in assets, sent letters from its corporate-governance team to about 120 companies this week, urging them to report climate dangers in line with the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures, set up by Bank of England Governor Mark Carney. The letters were sent globally to BlackRock holdings with “material climate risk inherent in their business operations,” such as those in the energy, transportation and industrial sectors, according to a copy seen by Bloomberg. They were signed by Michelle Edkins, the firm’s global head of investment stewardship.

Source: BlackRock Wields Its $6 Trillion Club to Combat Climate Risks – Bloomberg

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