It was during last year’s COP26 climate change conference when Larry Fink, head of the largest asset manager in the world, addressed the elephant in the room.
In a presentation, the BlackRock CEO stated that public companies were being "window dressed" by regulation in the move towards a carbon neutral world. However, he added that private firms were not currently being held to anywhere near the same degree of accountability when it came to their ESG credentials. In fact, with elevated levels of hydrocarbons being sold to private companies, Fink warned that we were at risk of facing "the biggest capital market arbitrage in our lifetime". It was a stark warning. And it really served to highlight the disparity that existed between private and...
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