BlackRock launched new climate and decarbonization stewardship guidelines for funds and clients explicitly directing investment towards decarbonization. For clients who have not directed BlackRock to prioritize climate risks and decarbonization as an investment objective, it will continue to focus solely on advancing their long-term economic interests in accordance with its benchmark policies, including consideration of climate-related risks and opportunities in a company’s business model where material to the company’s ability to deliver long-term financial returns. The new guidelines are summarized here.