BlackRock Puts Climate at Center of $7 Trillion Strategy (3)

Larry Fink struck an urgent note in his annual letter to America’s corporate executives: Climate change will upend global finance sooner than they might think.

Larry Fink

Photographer: Stefan Wermuth/Bloomberg

The BlackRock Inc. chief executive officer issued his strongest warning yet to business leaders on the climate crisis, and said his firm will take steps to address the issue across the thousands of companies in which it invests.

That may be harder than it sounds for a firm that holds more than two-thirds of its roughly $7 trillion of assets in products linked to indexes. Shifting holdings in those funds depends on what’s included ...