BlackRock's Fink wants more sustainability data from private

BlackRock's Fink wants more sustainability data from private cos - Netscape Money & Business


BlackRock's Fink wants more sustainability data from private cos
By Ross Kerber
Reuters
(Reuters) - BlackRock Inc Chief Executive Larry Fink on Wednesday called for more disclosure requirements for private companies as governments create new accounting standards for sustainable business areas like climate change.
In a letter to shareholders of the world's largest asset manager, provided by a spokesman, Fink wrote that government "must play the leadership role" in cutting emissions. He called for mandatory disclosures for public and private companies worldwide, coupled with legal protections for companies making their best efforts at describing risks.
"If large private companies are not held to the same level of scrutiny as public companies, we will create an unintended incentive to shift carbon-intensive assets to markets with less transparency and, often, less regulation," Fink wrote.

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