Blackrock changes direction

Source: BlackRock C.E.O. Larry Fink: Climate Crisis Will Reshape Finance - The New York Times

Laurence D. Fink, the founder and chief executive of BlackRock, announced Tuesday that his firm would make investment decisions with environmental sustainability as a core goal.
. . .
The firm, he wrote, would also introduce new funds that shun fossil fuel-oriented stocks, move more aggressively to vote against management teams that are not making progress on sustainability, and press companies to disclose plans “for operating under a scenario where the Paris Agreement’s goal of limiting global warming to less than two degrees is fully realized.”
. . .
Still, Mr. Fink made plain that while he intends for the firm to consider climate risks, he would not pursue an across-the-board sale of energy companies that produce fossil fuels. Because of its sheer size, BlackRock will remain one of the world’s largest investors in fossil-fuel companies.​

Bob Wilson

 

I saw it as evidence for the recent TSLA price increase. Yes there is a SHORT squeeze going on. But there is a viable hypothesis that institutional funds have gotten a clue.

Bob Wilson