BlackRock Chairman and CEO Larry Fink is warning that the financial risks of climate change are bigger than any crisis he’s experienced in his career on Wall Street.
“We don’t have a Federal Reserve to stabilize the world like in the five or six financial crises that occurred during my 40 years in finance,” the head of the world’s biggest money manager told CNBC’s Andrew Ross Sorkin in an interview that aired Tuesday. Sorkin also wrote about the interview in Tuesday’s New York Times.
“This is bigger,” he argued, calling on investors and corporate America to help combat climate change. “It requires more planning. It requires more public-private connections together to solve these problems. And I do believe many of these problems could be solved, but the actions have to begin now.”