The $7.4 trillion asset manager sees cash as a guard against further shocks, leading a trend sweeping corporate America.
The institutional investor joins firms such as JPMorgan in mobilizing around the relief effort.
Fund will invest 80% in securities that meet its environmental criteria and contribute to the World Wildlife Fund.
The world’s largest asset manager said it’s reducing cyclical exposures to global assets, such as emerging markets and Japan.
GMO co-founder, a climate change activist, compares their paltry returns to the S&P 500’s tripling over 10 years.
CEO Larry Fink says investment risk and climate risk are one and the same.