Institutional Investor
On April 8, the National Oceanic and Atmospheric Administration observatory in Mauna Loa, Hawaii, reported that the carbon dioxide levels in the atmosphere had reached 419 parts per million, the highest levels recorded in more than 4 million years. That same day, BlackRock, the world’s largest asset manager, announced another milestone: It had raised $1.25 billion for its U.S. Carbon Transition Readiness ETF, the largest exchange-traded fund in history. The fund is a visceral embodiment of BlackRock CEO Larry Fink’s assertion to clients that the firm “doesn’t see itself as a passive observer” when it comes to combating climate change.
By Kenneth P. Pucker •. September 13, 2021
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