BlackRock faces an early climate change test in China
The firm is the main Western investor in three of the worst emitters. It has yet to change their ways
In January 2020, BlackRock famously announced that climate risk would become its new lodestar. But in China, the world’s largest asset manager is still a newcomer to the art of persuading companies to take climate change seriously.
The US firm is the biggest Western shareholder in three Chinese companies that are among the worst polluters in the world and also lack a strategy for reducing their greenhouse gas emissions. Last year, though, BlackRock voted just once against management at any of
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