BlackRock’s Fink Says Listed Companies Can’t Be ‘Climate Police’

BlackRock Inc.’s Chief Executive Officer Larry Fink said new environmental reporting standards overburden listed firms compared to private peers and may distort the market, potentially undermining efforts to fight climate change.

“If governments are only asking public companies to move forward, which are mostly large companies, then they’ll be asking the large companies to be the climate police,” Fink said, speaking virtually at the Ecosperity event hosted on Tuesday in Singapore. “There are going to be some bad, unintended consequences if we don’t ask all of society to move forward.”

The CEO of the world’s largest asset manager said governments ...