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Seven Days: 17 January 2020

Seven Days: 17 January 2020

BlackRock goes green 

Fink urges climate action

The world’s largest fund manager, BlackRock, will sell some of its thermal coal holdings as part of a new sustainability strategy. Chief executive Larry Fink said “every government, company, and shareholder must confront climate change”, although the new environmentally-friendly approach won’t remove all businesses involved in coal from his company’s holdings. Those that get 25 per cent or more of their revenues from thermal coal – the type burned in power plants – will be sold off from the company’s active funds, meaning major producers Anglo American (AAL), BHP (BHP) and Glencore (GLEN) will still be held. 

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