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Article

22 Mar 2017

Author:
Meaghan Kilroy, Pensions & Investments (USA)

USA: World's largest asset manager BlackRock announces climate risk will be focus of its engagement with portfolio companies

"BlackRock highlights climate risk disclosure among its stewardship focuses for 2017-18", 13 Mar 2017

Enhanced climate risk disclosure will be an area of focus for BlackRock (BLK)'s investment stewardship team as it engages with portfolio companies over the next year...“Given climate risk is a systemic issue, we believe disclosure standards should be developed that are applicable to listed companies across each market and, ideally, that are globally consistent,” BlackRock said in the announcement. The money manager added that over the next year it will be encouraging companies most exposed to climate risk to adopt the reporting framework of the Financial Stability Board's Task Force on Climate-Related Financial Disclosures...BlackRock said that it will [also] work with companies to better understand their progress on improving gender balance in their boardrooms and that it will hold nominating and/or governance committees accountable if progress is not made within a reasonable time frame...