CNBC's Emma Newburger contributed to this report. "Through that reallocation of capital, we are going to see an overabundance of capital available to mitigate" some of the problems associated with the climate crisis, he said.įink said the problem was not going to be capital markets or capitalism, but rather whether governments would have the "fortitude" to act. When more people believe in something, we bring the problem forward," Fink said Thursday. It follows a 12-month period that saw the hottest year on record for the world's oceans, the second-hottest year for global average temperatures and wildfires from the U.S. The event, which is often criticized for being out of touch with reality, has said it aims to assist governments and international institutions in tracking progress toward the Paris Agreement and the U.N.'s Sustainable Development Goals. He and seven partners founded BlackRock in 1988, and under his leadership, the firm. The announcement was largely seen as a major step forward by climate activists, but many wanted the asset manager to expand its commitments to help other financial institutions follow suit.įink's comments in Davos, Switzerland came as many of the world's policymakers and business leaders gathered in the luxury ski resort to discuss how best to fight the climate emergency. Fink is Chairman and Chief Executive Officer of BlackRock. It would also start to exit investments in coal production, introduce funds that ban fossil-fuel stocks and vote against corporate managers who aren't making progress on fighting the climate crisis. 14, the New York-based investment firm explained how it would avoid investments in companies that have a high sustainability-related risk. Fink earned an MBA with a concentration in real estate from the University of California at Los Angeles (UCLA) in 1976 and a BA in political science from UCLA in 1974.In Fink's letter, published Jan. He also serves on the Advisory Board of the Tsinghua University School of Economics and Management in Beijing and on the Executive Committee of the Partnership for New York City. It is also incredibly successful for its risk management services. The financial investment firm has become a global force managing the investments of both institutional and retail investors. In addition, he serves on the boards of the Museum of Modern Art, the Council on Foreign Relations and the International Rescue Committee. Fink is a renowned financial executive and the founder, chairman, and chief executive officer (CEO) of ‘BlackRock Inc'. Fink wrote a letter to the world’s C.E.O. He serves as a member of the Board of Trustees of New York University (NYU) and the World Economic Forum, and is Co-Chairman of the NYU Langone Medical Center Board of Trustees. A year ago this month, the BlackRock chief Laurence D. Fink was a member of the Management Committee and a Managing Director of The First Boston Corporation. Fink has been named one of the "World's Greatest Leaders" by Fortune, and Barron's has named him one of the "World's Best CEOs" for 14 consecutive years. BlackRock’s mission is to help investors build better financial futures and the firm is trusted to manage more money than any other investment company in the world. Fink es fundador, presidente y consejero delegado de BlackRock, Inc. He and seven partners founded BlackRock in 1988, and under his leadership, the firm has grown into a global leader in investment and technology solutions. Fink is Founder, Chairman and Chief Executive Officer of BlackRock.
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