Net zero: A global shift with local impact

Larry Fink: We have some parts of the country that are very, very worried about what this transition will mean for their state, their locality, for their jobs. And so, this is not going to be an easy task. But I would say across the board, capital is moving, and it's going to move very rapidly. And I'm very proud that I can tell you right now; every hydrocarbon company in the United States is now focused on this whereas I would say three to four years ago, they weren't. They did not believe it. We are making change, and I would say we're making more rapid change because of Bill and other people who are expressing this openly.

 

Bill Gates: Well, the bulk of emissions in the decades ahead will come from developing countries. Let's think of it in three tiers. The rich countries: that's Europe, U.S., Japan. The middle income countries; that's where most of humanity lives. That's, you know, China on the high end – high middle income – and India on the low end. And you've got Brazil, Mexico, Indonesia, Vietnam, a lot of the world's population there. And then you have some very poor countries, a lot in Africa. The responsibility to innovate rests entirely on the rich countries, and particularly on the U.S., because the U.S. has the universities, the national labs; it's got the ability to organize risk-laden capital. We will not solve climate change without the rich world driving down dramatically. That will make it economic for the middle-income countries who are not responsible for the historic emissions and who are dealing with more basic needs.

Watch Larry Fink, Chairman and CEO of BlackRock, and Bill Gates, Founder of Breakthrough Energy, discuss the complex challenge of reaching net zero emissions and how the transition will spur innovation and accelerate change.

Mirjam Staub-Bisang, Country Head of BlackRock Switzerland, Blackrock: Hello! Welcome to BlackRock in Switzerland, where we have been in business for 25 years now. These days we employ over 100 members of staff and manage over 150 billion Swiss francs for our clients. We are proud to be making such an important contribution to the Swiss economy. In January 2020, we reported that Black Rock may be playing a leading role as a sustainable investor for our clients, for those clients on whose behalf we invest. I am pleased to be able to say today that since then, we have made good progress. Just a few highlights: All of our active strategies and mandate solutions now take ESG factors into account. This corresponds to more than 2.4 trillion Swiss francs of client money worldwide. We have since added 93 sustainable investment solutions, and in doing so helped our clients invest several billion Swiss francs in sustainable investment strategies. We have increased our technology platform by 1200 sustainable metrics. This means we can provide our clients with assistance to grasp ESG and physical climate risk more effectively. In 2021 we're going one step further. We have announced a range of measures to guide our clients’ portfolios towards the decisive goal of net zero emissions by 2050 both, in Switzerland and elsewhere. Transitioning to net zero emissions is a priority for society and for our planet. The transition to net zero emissions will transform the global economy and offer many exciting investment opportunities. This is an important development for all of us. Whether you are an existing or potential client, a future colleague or business partner, or just interested in our company, a warm welcome to BlackRock.

Investing sustainably for our clients

Watch Mirjam Staub-Bisang, Country Head of BlackRock Switzerland, share the progress that BlackRock is making in Switzerland to help our clients invest in a better, more sustainable future.

About BlackRock in Switzerland
We’ve been operating in Switzerland and investing money on behalf of our Swiss clients for more than 25 years.2 Our goal is simple – we want to help more and more people experience financial well-being.
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1 WRI (May 2020), Water: mapping, measuring and mitigating global water challenges.  
2 Source: BlackRock as of 26th January 2021

This material is intended for information purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities, funds or strategies to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The opinions expressed are as of January 26th, 2021 and are subject to change without notice. Reliance upon information in this material is at the sole discretion of the reader. Investing involves risks.

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