BlackRock's Fink embraces sustainability as 'new standard' for investing

Larry Fink has unveiled a raft of actions to integrate sustainability into BlackRock's investment offering, with ESG set to be assessed with the "same rigour" as liquidity and credit risk. In his annual letter to CEOs, Fink said climate change "has become a defining factor in companies' long-term prospects" and added that "we are on the edge of a fundamental reshaping of finance". He said: "Every government, company, and shareholder must confront climate change." Then, in an open letter to BlackRock's clients, CEO Fink added: "We believe that sustainability should be our new stan...