LONDON (AP) — Wall Street giant BlackRock announced Tuesday that it is backing a new London-based research hub which will provide asset managers with information on how the companies they invest in are addressing risks from climate change.
BlackRock said it is joining the Transition Pathway Initiative, or TPI, a London-based group that is already supported by dozens of major institutional investors, from banks to public retirement funds.
“It is BlackRock’s investment conviction that climate risk is investment risk," the company's global head of investment stewardship, Sandy Boss, said in a statement.
BlackRock's chief executive announced a shift toward more sustainable investments almost two years ago.
The TPI, which says it now has the backing of investors with a combined $40 trillion of assets under management or advisement, said it will significantly expand from 400 the number of companies it reports on.
Its new Global Climate Transition Centre, based at the London School of Economics, “will provide free and publicly available in-depth data on how 10,000 companies are aligning with a net zero pathway" and also assess government bonds and corporate debt issuers, the TPI said.
The announcement comes days before the start of a U.N. climate summit in Glasgow at which government, business and civic leaders will discuss how to tackle global warming.
Scientists say this requires drastically reducing emissions of greenhouse gases such as carbon dioxide, which is released from burning fossil fuels.
This means investments in the manufacture of fossil fuels and related products could soon become worthless, while companies with large carbon footprints will increasingly have to pay for those emissions, reducing their bottom line.
Follow all AP stories on climate change issues at https://apnews.com/hub/climate-change.7 Trucking Stocks That Are About to Go On a Roll
Americans are facing a historic supply chain crisis. The solutions are simple on the one hand and
maddeningly complex on the other. And no industry embodies that complexity more than the trucking
industry. Just getting the barges unloaded will not be enough. Those goods have to be transported to a
For that, we’re going to need trucks. And those trucks will need drivers. According to the American
Trucking Association (ATA), approximately 70% of consumer goods in the United States are transported
by trucks. However, for a variety of reasons, the industry faces a shortage of qualified drivers.
How extreme is that shortage? The ATA estimates that the shortage of qualified truck drivers sits at over
50,000 and continues to grow. In fact, it suggests that over 900,000 drivers are needed and there simply
are not enough qualified drivers to meet that demand.
We’re not going to see one million new drivers on the road by the end of the year. And even if we did,
trucking companies will be a beneficiary as the industry rises to meet this moment. This also means that
investors should be eyeing trucking stocks. And that’s why we’ve prepared this special presentation
which identifies seven trucking stocks that are excellent opportunities at this time.View the "7 Trucking Stocks That Are About to Go On a Roll"