When I read the report Five Years Lost, I was not shocked but disappointed to find that Blackrock are the world’s largest funder of fossil fuel projects. Really? So, why are your investments doing the opposite of this PR spin? Why are you doing nothing? Fink has the audacity to go on a sustainability drive, talking about how important climate risk is, and that their clients ask every day about what the firm is doing to ensure it’s derisked. So why are you investing in the death of our planet, Larry? This is the company who invest over 97% of their $8.67 trillion in non-sustainable assets. But we also believe the climate transition presents a historic investment opportunity. We know that climate risk is investment risk. 1 I believe that this is the beginning of a long but rapidly accelerating transition – one that will unfold over many years and reshape asset prices of every type. But just the opposite took place, and the reallocation of capital accelerated even faster than I anticipated.įrom January through November 2020, investors in mutual funds and ETFs invested $288 billion globally in sustainable assets, a 96% increase over the whole of 2019. Then the pandemic took hold – and in March, the conventional wisdom was the crisis would divert attention from climate. I said then that as markets started to price climate risk into the value of securities, it would spark a fundamental reallocation of capital. In January of last year, I wrote that climate risk is investment risk. No issue ranks higher than climate change on our clients’ lists of priorities. They are also increasingly focused on the significant economic opportunity that the transition will create, as well as how to execute it in a just and fair manner. They have begun to see the direct financial impact as energy companies take billions in climate-related write-downs on stranded assets and regulators focus on climate risk in the global financial system. In the past year, people have seen the mounting physical toll of climate change in fires, droughts, flooding and hurricanes. It has reminded us how the biggest crises, whether medical or environmental, demand a global and ambitious response. I believe that the pandemic has presented such an existential crisis – such a stark reminder of our fragility – that it has driven us to confront the global threat of climate change more forcefully and to consider how, like the pandemic, it will alter our lives. Did you see his shareholder newsletter this year? Here’s a few extracts … Larry Fink, CEO of Blackrock, is a great example. I mentioned this issue again in my update on the Money Rebellion last week and what really makes me angry is that financial firms like Blackrock sign up to global agreements to protect the environment, and create a load of PR spin, whilst they trash the world. Neighborhood Housing Services of Greater Cleveland Inc.I wrote two years ago about the BS that Blackrock talk about the climate. For more information, contact DataJoe and Cleveland Magazine have used their best efforts in assembling material for this list, but do not warrant that the information contained herein is complete or accurate, and do not assume, and hereby disclaims, any liability to any person for any loss or damage caused by errors or omissions herein whether such errors or omissions result from negligence, accident or any other cause. It is intended as a sampling of the quality work done in the industry in Northeast Ohio. There are many fine mortgage professionals who are not included in this list. Professionals do not and cannot pay to be included as a Top Mortgage Professional. DataJoe’s proprietary scoring algorithm factored in peer nominations, experience and an internet perception score based on web sites, rating services and social media. DataJoe started with information obtained from a primary government source, and then expanded on this information using the survey and an internet research campaign. HOW WE DID IT: DataJoe Inc., a Colorado-based research and publishing company, conducted exhaustive research using a combination of public data and industry surveys to create this list of Top Mortgage Professionals. Whether you're buying a new house of looking to refinance, check this list for people to help.
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