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(Bloomberg) BlackRock Inc. gave company directors more specifics on what it’s looking for in their plans to slow global warming, warning that it could vote against those who don't meet its standards.The world’s largest shareholder published a five-page document on Wednesday laying out its expectations for how companies should address climate risk. It’s the first look at the details following Chief Executive Officer Larry Fink’s letter in January calling on firms to align with global efforts to reach net-zero greenhouse gas emissions by 2050.“We expect directors to have sufficient fluency in climate risk and the energy transition to enable the whole board—rather than a single director who is a ‘climate expert’—to provide appropriate oversight of the company’s plan and targets,” the document reads. The asset manager could vote against directors if a company has not provided “a credible plan to tran
Fink demands net-zero disclosure as climate push strengthens
Annie Massa and Alastair Marsh, Bloomberg News Larry Fink, chief executive officer of BlackRock Inc., gestures as he speaks during a Bloomberg event on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 21, 2020. World leaders, influential executives, bankers and policy makers attend the 50th annual meeting of the World Economic Forum in Davos from Jan. 21 - 24. , Photographer: Bloomberg/Bloomberg
BlackRock Inc. Chief Executive Officer Larry Fink escalated his call for corporate leaders to focus on the environment in the wake of the COVID-19 crisis, and pledged new measures to address climate change.