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Covid may make world take climate change seriously says Blackrock boss

The boss of the world's biggest fund manager has said Covid-19 could finally convince people to take climate change seriously.

Larry Fink, whose company Blackrock looks after £6.3trillion of savers' money, said the pandemic has 'exacted a horrific human toll and transformed the way we live, work, learn, access medicine and more'.

In his annual letter to the management of companies across the world, noting there had been signs of hope, Fink said: 'The pandemic has presented such an existential crisis that it has driven us to confront the threat of climate change more forcefully and consider how, like the pandemic, it will alter our lives.

Climate rant: BlackRock boss Larry Fink said Covid has 'both exacted a horrific human toll and transformed the way we live - the way we work, learn, access medicine, and much more'

'It has reminded us how the biggest crises, whether medical or environmental, demand a global and ambitious response.'

Fink warned the companies it invests in they will need to show a game plan for surviving in a world aiming for net-zero carbon emissions by 2050.

The focus on net-zero strategies comes as policymakers and campaigners push asset managers to do more to hold firms to account over their climate plans, ahead of global climate talks in Scotland this year.

Blackrock has a significant stake in most large US corporations and in many in other countries, giving it much influence.

Fink added: 'We believe all must begin to address the transition to net zero today.'

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