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Larry Fink BlackRock Wants to Save the World

 The firm he runs manages some $10 trillion. Its funds are among the three largest shareholders in more than 80% of the companies in the S&P 500

Today, Mr. Fink is telling CEOs that companies must prepare for a scaleback of fossil fuels, and that the private sector should work with governments to do so.

He warns of the disruption climate change could cause both the economy and financial markets, but sees historic investment opportunity in the energy shift. It’s a point he has made to conferences in Davos, Venice, Riyadh and Glasgow over the past year.

 In March 2008, BlackRock was drawn into Fed efforts to cope with the deflating housing bubble. On a Sunday, New York Fed President Tim Geithner and Treasury Secretary Hank Paulson asked Mr. Fink for help as they scrambled to forestall a messy collapse of Bear Stearns, desperate to find a solution before Asian markets opened in a few hours

WSJ 6 January 2022


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