World’s biggest investor vows to support net-zero carbon pledge amid pressure to divest from fossil fuels
BlackRock, the world’s biggest investment fund manager, has threatened to sell shares in the worst corporate pollutersin a bid to support the goal of net-zero carbon dioxide emissions by 2050.
Larry Fink, BlackRock’s chief executive, said the investor would ask companies whose shares it holds to disclose their plans to achieve net-zero emissions. The new approach is set out in Fink’s annual letter to CEOs around the world. BlackRock could then divest from polluting companies, in its actively managed funds – which represent about a tenth of its assets – if they did not improve.