![]() ![]() If you're wanting to read Larry Fink's 2022 Letter to CEOs, the full letter can be found here. Keen to know how these themes impact your investment? For more insights on what they could mean for your own investment planning, talk to an ASB specialist (call 0800 272 019), or listen to the latest episode of the ASB Investment Podcast featuring Ben Powell (APAC Chief Investment Strategist) and Iris Davila (BlackRock Australia's Head of Investment Stewardship). We offer a Positive Impact Fund for our investors, as a way to use their investment funds to make a positive difference in the world.If you're facing significant financial hardship, you might be eligible for an early withdrawal.Try our new tool that helps you find government financial support for you and your family.Check your financial wellbeing and get tips to help you stay one step ahead.We've developed extensive online resources, tools and internal training to help our vulnerable customers:.We've continued to support our community partnerships and sponsorships throughout the pandemic: donating $200k towards two major incident welfare vehicles for St John, after the Super Saturday Covid-19 vaccination drive helping Kiwis through our local community fund and our work with KidsCan to provide essential items to kids in need.Our Business Sustainability Loan can support our rural customers by providing a special variable interest rate on term loans for an eligible environmental or social purpose. We continue to support farmers' sustainability journeys.Our own business is now carbon neutral.We're pleased to see that we share many of the same beliefs and values when it comes to the future, and that as a business we're already well on the paths Larry has identified as being crucial for future success. ![]() It's a sure way of driving permanent change.īlackRock is our investment partner, helping us to meet our customers' investment objectives.īut they're also the largest institutional shareholder of our parent company, the Commonwealth Bank of Australia. The rise of options like the ASB Positive Impact Fund make it easier for sustainable businesses to raise capital, and move funds away from polluters and high carbon creators. Investor action is a big driver of sustainability. They need to transform themselves through other energy technologies before they become fossils themselves. While BlackRock is not actively divesting from gas or oil as a policy, Larry does point out that these fossil-fuel industries need to become phoenixes. After all, there's no profitability without a viable planet. Companies that discover lower-cost ways to decarbonise industries will be huge winners, and the race is on around the world.Īgain, this ties in strongly to the demands of his clients, and the inevitable outcome of a long-term focus. Instead, he sees it as the biggest, most exciting investment opportunity of the coming decade. Larry doesn't see this as an environmental issue owned by governments and imposed as a cost on businesses. ![]() Yet, North America could be one of the biggest beneficiaries of global tensions, given its large and diverse labor force, natural resources and technology investments, he said.A common theme in every BlackRock letter since 2018 has been the importance of sustainability and decarbonisation. "The monetary and fiscal tools available to policymakers and regulators to address the current crisis are limited, especially with a divided government in the United States," Fink wrote. High interest rates will also limit government's spending, so business and government leaders must work together, Fink said. BlackRock has previously said its diversified products "have limited exposure to Silicon Valley Bank." Reuters reported this week that, based on Morningstar data, mutual funds managed by BlackRock and some others appear to be among the most exposed to the collapse of Silicon Valley Bank and Signature Bank (SBNY.O). He did not refer to BlackRock's own exposure to the regional banks. “The regulatory response has so far been swift, and decisive actions have helped stave off contagion risks. “It’s too early to know how widespread the damage is,” Fink wrote. That will lead bank clients to turn more to capital markets for their financing in the face of what Fink called the "asset-liability mismatches" that doomed Silicon Valley Bank and several smaller institutions. MARKETS ON EDGEįink said it was not clear yet whether the banking crisis precipitated by rising interest rates would claim more victims, but it seemed inevitable that some banks will now pull back on lending to shore up their balance sheets. He added that is "why BlackRock has been so vocal in recent years in advocating for disclosures and asking questions about how companies plan to navigate the energy transition," although it is not BlackRock's place to tell companies what to do.
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