The head of the world’s largest money manager believes the intensifying climate crisis will bring about a fundamental reshaping of finance, with a significant reallocation of capital set to take place “sooner than most anticipate.”
“Climate change is almost invariably the top issue that clients around the world raise with BlackRock. From Europe to Australia, South America to China, Florida to Oregon, investors are asking how they should modify their portfolios,” Fink continued.
“In the near future — and sooner than most anticipate — there will be a significant reallocation of capital,” he added. “Over the 40 years of my career in finance, I have witnessed a number of financial crises and challenges — the inflation spikes of the 1970s and early 1980s, the Asian currency crisis in 1997, the dot-com bubble, and the global financial crisis,” Fink said.
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