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And more importantly, through that is to provide them with an investment portfolio that will outperform.” Time, therefore, to buy climate-positive stocks? “My job is, as a capitalist, to help prepare our clients for the redistribution of capital.
I wrote the letter as a capitalist,” Fink said in the interview. But I did not write it as an environmentalist. Further, it would be one where there would be no Fed to lend support. In an interview with CNBC, Fink said this shift in the financial markets would be unlike any of the crises he had seen in his career of 40 years. “In the near future – and sooner than most anticipate – there will be a significant reallocation of capital.” “Because capital markets pull future risk forward, we will see changes in capital allocation more quickly than we see changes to the climate itself,” Fink wrote. Larry Fink: Upheaval from reallocation of capital Larry Fink’s emotionally charged plug for ESG ticks all the investment boxes for Tesla.Īccording to Cramer, electric car maker Tesla could be a beneficiary of BlackRock’s new-found love for everything ESG.īlackRock CEO Larry Fink warned in his annual letter to investee CEOs, titled “ A fundamental reshaping of finance,” that “climate change has become a defining factor in companies’ long-term prospects,” and that markets have been slow to reflect the growing global concerns on climate change.