• BlackRock’s CEO Larry Fink wrote a letter to corporate leaders Tuesday pressing them to disclose concrete climate change plans.
• Companies’ plans should help eliminate net greenhouse gas emissions by 2050, Fink wrote.
• “I urge companies to move quickly to issue them rather than waiting for regulators to impose them,” he said.

BlackRock founder Larry Fink on Tuesday morning pushed CEOs around the world to publish plans for reaching net-zero greenhouse gas emissions by 2050.

In a letter he sends annually, Fink called on companies to “disclose a plan for how their business model will be compatible with a net zero economy,” defined as limiting global warming to well below 2 degrees Celsius and eliminating net greenhouse gas emissions by 2050.

“We expect you to disclose how this plan is incorporated into your long-term strategy and reviewed by your board of directors,” he wrote to corporate leaders.

BlackRock, the world’s biggest asset management firm, would change its investment process via a “heightened-scrutiny model” for managing holdings that pose a climate risk, Fink said.