BlackRock’s Larry Fink: climate policies are about profits, not being ‘woke’

Investment fund manager says firms that do not plan for a carbon-free future risk being left behind

Larry Fink, the chief executive of BlackRock, the world's biggest investment fund manager, said pushing climate policies was about profits, not being woke".

In his annual letter to CEOs , Fink said businesses, cities and countries that do not plan for a carbon-free future risked being left behind. He argued that the pursuit of long-term returns was the main driver behind climate policies, after being criticised for seeking to influence companies.