Blackrock urges firms to prep for net-zero transition

CLIMATE risk is investment risk, but the climate transition is also a "historic investment opportunity'', said Laurence Fink, chairman and chief executive of BlackRock, the world's largest asset manager.

In his latest annual letter to chief executives, Mr Fink called on companies to have a plan to transition to net-zero emissions.

This will distinguish them and give their stakeholders confidence that they are able to navigate the global transition towards carbon neutrality. "There is no company whose business model won't be profoundly affected by the transition to a net-zero economy,'' he said.