저자: LarryFink · 외국인
요약 보기
블랙록 CEO 래리 핑크는 ESG·지속가능 투자 확대가 고객 수요에 따른 것이며 기후 리스크가 곧 투자 리스크라고 주장한다. 지속가능 ETF 자금 유입이 2019년 연간 120억 달러, 2020년 상반기 170억 달러로 급증했다고 밝히며, 이는 회사 자금이 아닌 고객 자금이라고 강조한다. 블랙록은 석탄 등 일부 부문 투자는 제한하지만 석유·가스 등 탄화수소 기업 투자는 막지 않으며, 에너지 기업과 협력해 전환을 돕는다고 설명한다. 기후 관련 공시(TCFD, SASB) 개선을 요구했고, 기후 대응이 부족한 244개 기업을 지목했으며 그중 53개 기업에 의결권 행사(반대표)를 했다고 밝힌다. 핑크는 코로나19 이후 이해관계자 자본주의(stakeholder capitalism)가 더 중요해질 것이며, 기업들이 공시를 늘리는 것은 좋은 비즈니스라고 본다. 은행의 화석연료 기업 자금 차단에 대해서는 은행이 기후 리스크를 투자 리스크로 보고 포트폴리오를 조정하는 것이라며 자신은 판단을 내리지 않겠다고 답한다. 젊은 세대는 환경·사회 문제에 더 적극적이며, 이 변화는 점진적이 아니라 가속화될 것이라고 전망한다. 특정 종목·자산의 가격 방향에 대한 단기~중기 예측 발언은 없다.
다듬은 글
last year in our ETF sustainability products we had 12 billion dollars of flow for the entire year in the first in the first six months we had 17 billion dollars of flows so this is not our money our clients are looking to invest in more renewable sustainable products that's not starving other sectors it's just a surge of investments in new energy in new technologies so I you know so what we're witnessing worldwide is a surge of interest in clients looking to put money in more renewable components of energy and and that surge is going to continue and so if you think about our our energy Network today we are we're using now more renewable energy in the United States and call that's continuing to do that we look at that as a good thing so where we are we were responding to our clients wishes where they want our money where they want their money to be placed Larry you're also you're also taking a role you're a lead role yourself you took it you even point out that you've identified 244 companies that are making insufficient progress integrating climate risk into their business models were just we took voting action against 53 so you're actually you're we were doing certain things as an activist and I'm just wondering whether that's an appropriate role for you would you do it for pro-choice just go ahead so let me tell you what we did we in my 2020 CEO letter we asked for companies to report on T CFD and SAS B and many companies have not moved forward and that's what we're asking them we're looking for better transparency and how they are navigating their company and that's what we're doing we have not made big bold changes but we're asking for better disclosure and I don't think there's anything wrong about asking for better disclosure across the board and I think going forward we're gonna you know we are seeing more and more companies doing that and they're doing that because it's good business for them you know the one thing that is very clear in this kovat world that we're living in beyond the sustainability world Joe stakeholder capitalism is only going to become more and more important and the companies that focus on all their stakeholders their clients their employees the society where they work and operate are going to be the companies that are going to be the winners for the future and we do believe these issues around social issues and how they operate and this is why we ask companies report under SAS B and under TCF D so we can truly understand how they're navigating around this whole long term trend of climate change but we believe more than ever before Joe that climate change is in his investment risk and we're seeing that through our clients and how our clients are allocating capital we're not denying capital to the energy companies if our clients want to put money in it in the S&P or in a specific energy fund we are not denying that do you think the only segment the only segment where we said we're not investing it is in is in thermal coal we are not denying investments and other components of hydrocarbons we're working side-by-side with many of the great great energy companies and in many cases some of the leaders of these great energy companies are trying to transform themselves and moving forward and so I I don't want to get into involved in a political commentary but much of what was said was so conflated what we are doing is trying to move everybody forward where we're not an activist but that so they put D Boyden gray piece so it then you're saying he conflated Blackrock with these banks do you think it's appropriate to for banks to be cutting off capital to companies that are doing hydrocarbon exploration do you think there's a risk that we lose a lot of these very high-paying jobs that that that they are actually taking an activist role in in picking winners and losers and what should be a free market decision on how we move forward you said oh that's the banks doing it we're conflating you at the bank do you think the banks should be doing it to Larry to a finalization of it I don't think banks I think banks are strong capitalist organizations I think they also look that climate risk is investment risk so they're navigating their portfolios I you know I don't want to respond to any one thing but I believe they are very good at allocation of capital they're actually withstanding the kovat crisis very well despite their reserves I'm not here to decide on't know what they're doing in terms of withdraw holding back capital I can't I don't see that myself but I can't respond to it but I once again if you truly believe that climate risk is going to be an investment risk and you believe in your trying to navigate your asset allocation that's a proper response that is not that is not an antitrust issue that is an investment decision when you think about the young people are joining firms like at Blackrock we have our training program this year remotely very different very different results versus being in in office working side-by-side with people but think about these young people who are joining the workforce now these are they were quite young during 9/11 in the United States there were young teenagers during the financial crisis and now they're entering the workforce and we have kovat and they're working remotely I believe their life's experiences are so vastly different than well my life experience I was innocent and idyllic childhood I think the experience of these young people today are vastly different and their behavior is going to be different and quite frankly this isn't you know just getting back to what Joe was talking about related to sustainability and environmental the young people in all our surveys are more vigorous in terms of the protection of the environment more than ever before I think the existential risk of kovat the the racial inequalities that we've witnessed in the last two months I do believe the younger generation is going to be more vigorous in terms of social issues and environmental issues and I know that an in black rocks own workforce and and this is this is not just going to be a slow change but I actually believe we're going to see a an accelerated attitude towards these issues and I do believe we this is why I've been so vigorous in myself and making sure that black rock is as purposeful as we can be and why stakeholder capitalism has to become the major component of what every business leaders are focusing on you
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