Global economy predicted a radical change

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www.vsyako.netLarry Pinchot: Thomas Peter / Reuters

Climate change will lead to a radical restructuring of the economy, the global financial system and the redistribution of capital, the head of the world’s largest investment company Blackrock Larry Fink. He said this in his annual letter to the leaders of companies, writes CNBC.

“Climate change has become the determining factor in the long-term prospects of companies. I believe that we are on the verge of a fundamental restructuring of the financial system,” predicted the head of Blackrock. He noted that investments in mineral extraction becomes highly risky, because customers constantly raise the issue of climate change when forming investment portfolios, according to Bloomberg.

So, Blackrock plans to bring coal mining companies from its active investment portfolio. The current level of investment in such structures is not disclosed. However, in total, the company manages assets of 1.8 trillion dollars.

Earlier, analysts at JPMorgan Chase & Co. took “green investments” to strategic investment portfolio. According to their forecast, although the profitability of such investments in the past decade was low in the future, the world will change. They believe that the profitability of green investment will increase substantially in connection with the intensification of climate change and increased attention to the problem from the side of big business and States.

According to the calculations of the insurance company Euler Hermes, measures to prevent climate change on the planet could cost the world economy $ 2.5 trillion. Mostly it will affect the energy sector as well as steel production and air transportation.

Video, photo All from Russia.

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