Asset Managers Could Gobble Up Biden’s Climate Spending ...Middle East

Asset management firms have their fingers in a lot of pies. BlackRock, the world’s largest, has several alumni in the White House. BlackRock, Vanguard, and State Street jointly control 20 percent of the average S&P 500 company. As of March 31, BlackRock was also the largest shareholder in Warrior Met Coal, a fact that led 120 United Mineworkers—whose members at Warrior have been on strike for four months—to swarm the firm’s Manhattan offices last week with scores of supporters. And now, depending on how infrastructure and climate negotiations go, asset management firms could soon be playing a major role in the how the world mitigates and adapts to climate change.Estimates suggest the United

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