11/23/2023 0 Comments Blackrock letterThe letter to CEOs acknowledges that response to these concerns will require time, but suggests the implementation will be quicker than currently expected. Disclose climate-related risks in line with the TCFD’s recommendations.Publish a disclosure in line with industry-specific SASB guidelines by year-end (or a similar set of data relevant to the particular business) and.Moreover, this year, BlackRock is asking the companies they are invested in to do the following, if those companies have not done so already: In particular, BlackRock endorses the disclosure frameworks set out by the Sustainability Accounting Standards Board (SASB) for sustainability-related information and the Task Force on Climate-related Financial Disclosures (TCFD) for climate-related risks. To provide investors and others with a clearer picture of how companies manage matters related to sustainability, BlackRock is calling for improved disclosure as well as action. Strengthening BlackRock’s commitment to sustainability and transparency in its investment stewardship activities.Launching new investment products that screen fossil fuels and.Exiting investments that present a high sustainability-related risk, such as thermal coal producers.Making sustainability integral to portfolio construction and risk management.In his letter to CEOs, Fink calls out several initiatives BlackRock is pursuing to respond to these changes: Both letters focused on the importance of climate change and sustainability in the evaluation of the companies in which BlackRock invests, asserting that the rapidly changing awareness of the significance and lasting impact of climate change is leading to “a fundamental reshaping of finance” and “a significant reallocation of capital.” ![]() Wright, II was Senior Vice President, General Counsel, and Secretary of the Triumph Group, Inc.-an NYSE-traded supplier of aerospace systems and support-for 15 years.īlackRock’s Chairman and Chief Executive Officer Larry Fink issued his annual letter to CEOs and a letter to clients on January 14, 2020. Please send us your feedback and topic suggestions. The series will explore issues of practical significance to GCs and others responsible for an organization’s legal affairs. This is part of a series written by our former GCs. Many of our attorneys have served as General Counsel to public and private companies and other organizations.
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