Net zero: A global shift with local impact

Larry Fink: We have some parts of the country that are very, very worried about what this transition will mean for their state, their locality, for their jobs. And so, this is not going to be an easy task. But I would say across the board, capital is moving, and it's going to move very rapidly. And I'm very proud that I can tell you right now; every hydrocarbon company in the United States is now focused on this whereas I would say three to four years ago, they weren't. They did not believe it. We are making change, and I would say we're making more rapid change because of Bill and other people who are expressing this openly.

Bill Gates: Well, the bulk of emissions in the decades ahead will come from developing countries. Let's think of it in three tiers. The rich countries: that's Europe, U.S., Japan. The middle income countries; that's where most of humanity lives. That's, you know, China on the high end – high middle income – and India on the low end. And you've got Brazil, Mexico, Indonesia, Vietnam, a lot of the world's population there. And then you have some very poor countries, a lot in Africa. The responsibility to innovate rests entirely on the rich countries, and particularly on the U.S., because the U.S. has the universities, the national labs; it's got the ability to organize risk-laden capital. We will not solve climate change without the rich world driving down dramatically. That will make it economic for the middle-income countries who are not responsible for the historic emissions and who are dealing with more basic needs.

Watch Larry Fink, Chairman and CEO of BlackRock, and Bill Gates, Founder of Breakthrough Energy, discuss the complex challenge of reaching net zero emissions and how the transition will spur innovation and accelerate change.

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Our net zero commitment

Marcia Moffat: Hello and welcome to BlackRock in Canada. We have been here in Canada for 30 years. 

And we employ over a 100 people and manage $260 billion of assets, we’re proud to have deep and longstanding roots in this country. 

Our purpose both in Canada and globally is to help more and more people experience financial well-being by making investing simple and accessible.

We partner with Canada’s leading institutions like corporate pension funds and insurers to help them create value for their stakeholders and clients. Through our iShares franchise, we offer investment solutions to help investors of all kinds achieve sustainable financial well-being. In every decision we make, we put our clients first.
 
Last year, in January 2020, we published a letter setting out our ambitions for BlackRock to play a leadership role as a sustainable investor for our clients, on whose behalf we invest. I am delighted to say that, since then, we have delivered some good progress. 
 
• Few highlights include that, today, all of our active and advisory strategies are ESG integrated – covering US$2.7 trillion in assets;
 
• we introduced 93 new sustainable solutions in 2020, helping clients allocate billions of dollars to sustainable investment strategies over the year;
 
• and we have added 1,200 sustainability metrics to our technology platform to help clients better understand ESG and physical climate risks.
 
Now, we’re in 2021, and we are pushing ahead once again. We have announced a set of actions that we are taking to help move our clients’ portfolios – and the Canadian and global economies – towards the crucial target of net zero carbon emissions by 2050.
 
The net zero transition is an imperative for society and for the planet, and it will reshape the global economy, offering a number of exciting investment opportunities. This is an important moment for us all.
 
Whether you are an existing or prospective client, whether you are a possible future colleague, whether you are a business partner, or an interested member of society, welcome to BlackRock.”

Investing sustainably for our clients

Watch Marcia Moffat, Country Head of Canada, share the progress that BlackRock is making to help our clients invest in a better, more sustainable future.

Our response to COVID-19
During this unprecedented crisis, our conviction in our purpose – to help more and more people experience financial well-being – is stronger than ever. BlackRock has taken action to continue delivering for our clients, stay connected with our shareholders, support employee well-being, and provide relief for the communities in which we operate.
Our response to COVID-19

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Sustainable solutions
Sustainable solutions
We build investment products that can do more than grow your money. Align your investments to your values with funds that support ESG considerations.
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Corporate sustainability
We put an unwavering focus on long-term sustainability and ensure it is embedded across our entire business.
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Investment stewardship
We engage with companies to inform our voting and promote sound corporate governance that is consistent with sustainable, long-term value creation.
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