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The fishing trip that changed Larry Fink into a green warrior

The fishing trip that changed Larry Fink into a green warrior

BlackRock co-founder Larry Fink had an epiphany on a fishing trip two years ago. Now he is just one of the bankers who see tackling climate change as a way to fuel profits.

BlackRock CEO Larry Fink says climate risk is investment risk. David Rowe

Gillian TettContributor
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In August 2019, Larry Fink, co-founder of BlackRock, the world’s largest asset management group, flew out to the remote wilderness of Lake Iliamna in south-west Alaska.

Fink makes that pilgrimage every summer with friends such as Philipp Hildebrand, the former Swiss central bank governor who now works at BlackRock, and Mike Corbat, the outgoing head of Citibank. The men engage in fly-fishing, wine-tasting and economic debate amid the mountains’ pristine beauty.

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Gillian Tett
Gillian TettContributorGillian Tett is chair of the editorial board and editor-at-large, US of the Financial Times. She writes weekly columns, covering a range of economic, financial, political and social issues.

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Original URL: https://www.afr.com/wealth/investing/how-wall-street-adopted-a-new-mantra-green-is-good-20210201-p56yl7