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BlackRock’s Hildebrand Predicts ‘Vast Reallocation’ Into ESG

Oct. 1, 2021, 11:32 AM

Global capital markets are about to witness a seismic shift of capital into products that promise to support environmental, social and governance goals, according to Philipp Hildebrand, the vice chairman of BlackRock Inc.

“The long-term story is clear,” Hildebrand said in an interview on Friday with Bloomberg Television’s Francine Lacqua. “We’re going to continue to see a vast reallocation of capital toward sustainable products.”

The prediction comes as the ESG market -- already estimated at more than $35 trillion -- faces growing scrutiny from regulators and investors following claims of greenwashing at major asset managers. Hildebrand acknowledged that ...

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