Front Burner

World's biggest money manager sees profit potential in climate change action

Today on Front Burner, host Jayme Poisson talks to business professor Sarah Kaplan about the decision by the world’s biggest money manager, BlackRock, to make climate change central to its investment decisions, and whether corporations can lead on climate change action.
FILE PHOTO: Blackrock's Richard Prager rings the opening bell above the floor of the New York Stock Exchange (NYSE) in New York, U.S. May 31, 2019. To match Special Report USA-FUNDS/INDEX REUTERS/Lucas Jackson/File Photo (Lucas Jackson/Reuters)

BlackRock manages more money for investors than anyone else on Earth. So when the company announced this week it would start adjusting its investment strategies to factor in the costs of climate change, Wall Street took notice. In today's episode of Front Burner, we speak with business professor Sarah Kaplan about just how much of an impact this could have on the company's bottom line — or whether it's just more hot air from an industry obsessed with short-term profits over long-term sustainability.

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