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Climate Change

'Net zero' here to stay, Asia mega-investor BlackRock says

Larry Fink pushes CEOs harder on climate in annual letter

In his annual letter to CEOs, BlackRock chief Larry Fink told companies around the world that "the climate transition presents a historic investment opportunity."   © Reuters

NEW YORK -- Larry Fink of BlackRock, the world's largest asset manager, is nudging companies to step up efforts on global warming by inquiring about how they will move to a climate-friendly economy.

"Given how central the energy transition will be to every company's growth prospects, we are asking companies to disclose a plan for how their business model will be compatible with a net zero economy -- that is, one where global warming is limited to well below 2 degrees C, consistent with a global aspiration of net zero greenhouse gas emissions by 2050," wrote Fink, BlackRock's chairman and CEO, in his just-published annual letter to chief executives.

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