Climate Risk Requires Fundamental Reshaping of Finance: BlackRock

Philipp Hildebrand discusses the importance of sustainability in finance, highlighting BlackRock's role in promoting sustainable investments. He emphasizes the industry's shift towards recognizing climate risk as investment risk and the need for transparency and standards. The conversation covers challenges in adapting business models, the role of regulation, and the potential economic impacts of sustainability. Hildebrand also touches on the evolution of GDP measurement to incorporate sustainability risks.

How have clients reacted to the announcement made regarding sustainability?

What do clients recognize about climate risk in relation to investment risk?

What is the significance of the shift towards sustainable investing according to the speaker?

What challenges does BlackRock face in translating sustainability into their index products?

How do chief executives perceive the impact of climate change on their businesses?

What are the emerging standards mentioned that aim to improve sustainability disclosures?

What role does government play in addressing climate change according to the speaker?