BlackRock arrives fashionably late to sustainable portfolios

Jan 16, 2020 - Fortune

Good morning. 

“Climate risk is investment risk,” BlackRock CEO Larry Fink wrote in his annual letter to CEOs this week, noting that climate change was forcing financiers to reconsider their “core assumptions” about modern finance.

To that end, BlackRock—the world’s largest asset manager—is making some changes to its portfolio. Companies that generate more than 25% of revenue from coal will be removed from the group’s actively managed funds.  

However, as...