Climate crisis will fundamentally reshape world of finance, says world's largest asset manager

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The world's largest asset manager is putting climate change at the center of its investment strategy blackrock overseas almost seven trillion dollars in investments the founder and CEO Larry think made the announcement in his annual letters to clients and chief executives of the world's largest companies he said blackrock will exit investments the present a high sustainability related risk he also said the company would launch new investment products that screen for fossil fuels I asked Larry think about his message to investors who might say that's all well and good but you're not maximizing my profits well the United States blackrock as a fiduciary who has to live under that mandate that is the risk of rules at in the United States at the time that number one responsibility is to maximize return this is one of the reason why the United States is actually behind many places the world that places sustainability much more prominent we have also made a statement that we believe that a sustainable portfolio will outperform or indeed will maximize your profits over a long

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