U.S. President Joe Biden’s climate summit will turn to the issue of technology on Friday, featuring remarks from entrepreneurs Bill Gates and Michael Bloomberg, after Thursday’s Earth Day kickoff sought to rally world ambition to reduce global warming.
The Democratic president, who returned the United States to the pact, announced a new U.S. target on Thursday to reduce its emissions 50%-52% by 2030 compared with 2005 levels. Japan and Canada also raised their targets. read more
China's energy regulator said earlier on Thursday that it would aim to reduce the share of coal in its total energy mix to less than 56% this year, but it remains one of the only major economies to approve new coal projects.
"If large private companies are not held to the same level of scrutiny as public companies, we will create an unintended incentive to shift carbon-intensive assets to markets with less transparency and, often, less regulation," Fink wrote.
Fink's language was more specific than in a January memo in which he said climate disclosures "should be embraced" by large private companies.