BlackRock Invests in Hub for Company Climate Data

Investment giant BlackRock announced that it will support a new London-based hub that will provide investors with assessments on companies’ climate change plans.

BlackRock, the world’s largest asset manager, will join other major investment banks in supporting the Transition Pathway Initiative (TPI), according to a press release by TPI.

“It is BlackRock’s investment conviction that climate risk is investment risk,” said Sandy Boss, the company’s global head of investment stewardship.

The TPI announced its plans to open a research center at the London School of Economics next year, the TPI Global Climate Transition Centre, which “will provide free and publicly available in-depth data on how 10,000 companies are aligning with a net-zero pathway.”

“This TPI Centre will underpin the global climate transition directly empowering investors to take action and judge climate performance through the same lens,” said TPI Chair Adam Matthews.

The group, which also plans to expand to assessing government bonds and corporate debt issuers, said that it is backed by investors worth a combined total of $40 trillion.

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