World’s Largest Fund Manager Sees Huge Opportunity In Climate Change

The world’s biggest fund manager, BlackRock, said on Tuesday it is making sustainability and transparency the center of its investment strategy as it expects investment risks presented by climate change to speed up a significant reallocation of capital. BlackRock will exit thermal coal producers, make sustainability the key part of risk management and building portfolios, and launch exchange traded funds (ETFs) that screen fossil fuels, among other measures, to show clients that bit is taking their environmental, social, and governance (ESG)…