Blackrock, with more determined pandemics in climate fight

(ANSA) - ROME, JANUARY 26 - "The pandemic has confronted us with such an existential crisis - such a strong call to our fragility - that it induces us to face with greater determination the global threat of climate change, destined, like the pandemic, to change our lives".

Thus Larry Fink co-founder and president of Blackrock in the 2021 letter to the CEO in which he underlines how Covid has triggered "the most serious global contraction since the Great Depression and the fastest collapse of the stock markets since 1987" but with different consequences among the different sectors, with some that have suffered. and others who have thrived ".

    In January of last year, I wrote that climate risk is investment risk, and that as soon as the markets started discounting climate risk in the value of stocks, we would see a fundamental reallocation of capital "writes Fink." Then came the pandemic, and in Marzol the most widespread opinion was that the crisis would divert attention from the climate.

Instead, exactly the opposite happened and the reallocation of capital accelerated even faster than I had anticipated.

   "" From January to November 2020, investors in mutual funds and ETFs globally invested $ 288 billion in sustainable assets, an increase of 96% compared to all of 2019.

   We are at the beginning of a long but rapidly accelerating transition, which will unfold for many years and will transform the prices of financial assets of all kinds "." Now - says Fink - we know that climate risk is risk of investment.

But we are also convinced that the climate transition represents a historic investment opportunity (ANSA).