By building a dominant suite of exchange traded funds, BlackRock has also developed a marketplace for people eager to align their beliefs with environmental and socially-conscious investments.
Competitors are now springing up, such as the start-up investment fund Engine No. 1. Nevertheless, BlackRock, under chief executive Larry Fink, remains by far the largest player in ETFs that have environmental, social and governance (ESG) characteristics — via its iShares range.
Independent investment research group CFRA calculates that almost 60 per cent of all assets in ESG ETFs are held through BlackRock — and 64 per cent of new net fund flows into such funds in the past year have gone to BlackRock.
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