BlackRock's Larry Fink pushes for bold climate goal in annual letter

Firms must adopt 2050 net-zero emissions goal

BlackRock will start pushing companies to disclose their plans for going net-zero and eliminating greenhouse gasses by 2050, BlackRock CEO Larry Fink wrote in his annual letter to corporate leaders.

The boss of the world's largest asset manager is calling on all companies "to disclose a plan for how their business model will be compatible with a net-zero economy," which he defines as limiting global warming to no more than 2oC above pre-industrial averages, and eliminating net greenhouse gas emissions by 2050. "We expect you to disclose how this plan is incorporated into your long-term strategy and reviewed by your board of directors," he wrote. Fink said that a "tectonic shift" in the investment landscape was happening faster than he expected. Larry Fink tells investors to ex...