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Funds News

BlackRock CEO backs mandatory climate reporting, urges U.S. action

LONDON, Nov 10 (Reuters) - Larry Fink, chief executive of the world’s largest asset manager BlackRock, said on Tuesday he backed the UK’s recent move to make the reporting of corporate risk related to climate change mandatory, and urged the United States to follow suit.

“We welcome the UK Chancellor’s announcement yesterday (of) mandatory TCFD reporting,” Fink told the Green Horizon Summit in London, referring to the Taskforce for Climate-Related Financial Disclosures, which will be required from large companies and financial institutions by 2025.

Also on Monday, the Financial Conduct Authority said premium listed companies would need to make the disclosures from January.

“The United States, for its part, should move faster so we can achieve greater global coordination.” (Reporting by Simon Jessop and Matthew Green; Editing by Jan Harvey)

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