“This is the beauty of humanity: We adapt, we evolve, we move forward.”
In the visionary perspective of Larry Fink, people rise to face challenges like climate change and COVID-19, embracing innovation and ingenuity to create better outcomes.
During a captivating conversation hosted by CFA Society Toronto and moderated by former Bank of Canada deputy governor Lynn Patterson, BlackRock’s chair and CEO shared insights on pressing global issues.
Fink’s outlook was a blend of realism and optimism, expressing hope for a COVID-19 vaccine and advocating for long-term positivity amidst short-term challenges.
“I bet on humanity and success. I believe in a brighter future where we tackle problems collectively,” he stated confidently.
Climate Risk as Investment Risk
“We are seeing huge evidence that climate risk is becoming investment risk and we are seeing investors worldwide are now demanding a sustainable lens.”
In his influential “Letter to CEOs“, Fink highlighted the growing climate change threat to markets and pledged BlackRock’s divestment from high sustainability-risk companies.
He emphasized the financial sector’s need to reevaluate assumptions due to climate risks reshaping investments: “The evidence on climate risk is compelling investors to reassess core assumptions about modern finance.”
BlackRock is witnessing rising interest in ESG and climate-focused investments globally, with Fink noting the outperformance of ESG-biased investments: “80% of our investable products with ESG and climate biases have outperformed regular indexes.”
