BlackRock's Larry Fink must think again over tackling climate crisis

The accusation is not that the company is doing nothing but how hard is it pushing?Here's a good question for Larry Fink, the BlackRock billionaire, to address when he dispatches his lofty annual "dear CEO" letter in the new year. Is his firm guilty of "greenwashing"? In other words, is the world's biggest fund manager, with an astonishing $7tn of assets under its roof, posing as a pioneer of climate activism while actually dragging its feet?The accusation was made by Sir Christopher Hohn, another fund management billionaire. His hedge fund, TCI, is warning companies to improve their disclosures on carbon emissions and actions to reduce pollution, or face votes against the re-election of directors. But his pointed criticism of BlackRock was almost as significant. Hohn said out loud what others say in private: that Fink's declared environmental concerns are not matched on the ground by BlackRock's fund managers. Continue reading...