Why BlackRock Is ‘Going Green’

BlackRock, the world’s largest money manager, just announced that it would exit investments with “high sustainability” risks. Initially, we interpreted that as meaning a plan for the eventual divestiture from coal mines and related fossil burning infrastructure. Larry Fink, the CEO of BlackRock said in his annual letter that the world of finance was on the cusp of a fundamental change. But Mr Fink’s epiphany could mean more to energy companies in general than to coal miners that only comprise a small percentage of the market…