Posted by AGORACOM
at 11:47 AM on Thursday, January 16th, 2020
SPONSOR: American Creek owns a 20% Carried Interest to Production at the Treaty Creek Project in the Golden Triangle. 2019’s first hole averaged of 0.683 g/t Au over 780m in a vertical intercept. The Treaty Creek property is located in the same hydrothermal system as the Pretivm and Seabridge’s KSM deposits. Click Here for More Info
About American Creek
American Creek is a Canadian mineral exploration company with a
strong portfolio of gold and silver properties in British Columbia.
Three of those properties are located in the prolific “Golden
Triangleâ€; the Treaty Creek and Electrum joint venture projects with
Tudor Gold/Walter Storm as well as the 100% owned past producing
Dunwell Mine.
The Corporation also holds the Gold Hill, Austruck-Bonanza,
Ample Goldmax, Silver Side, and Glitter King properties located in
other prospective areas of the province.
For further information please contact Kelvin Burton at: Phone: 403 752-4040 or Email: [email protected]. Information relating to the Corporation is available on its website at www.americancreek.com
Posted by AGORACOM
at 10:37 AM on Thursday, January 16th, 2020
Building codes are a labyrinth of national, state, and municipal
rules. While California since 2015 has required new homes to have the
necessary conduit and service-panel capacity for EV-charging, guidelines
in the rest of the country are spotty. That could soon be fixed because
the International Code Council (ICC) – which provides widely adopted
best practices and standards for construction – approved putting
EV-readiness in its latest guidelines.
The new guidelines equate to a ready-made, consistent national
approach for EV-charging capabilities for new homes and apartment
buildings.
While all states follow the principles outlined by the ICC’s building
codes, the provisions are voluntary until incorporated into state or
local laws. Quartz reports that about half of US states are expected to adopt the ICC’s new EV-readiness requirements.
Forward-looking municipalities – notably Atlanta, Denver, Palo Alto,
and Seattle – already have EV-friendly construction codes in place.
Estimates for the cost of compliance for a newly constructed home vary widely from less than $100 to nearly $1,000.
A 2016 study
pegged the price in San Francisco to be $920 (for a building with 10
parking spaces). But that’s significantly less than adding charging
capabilities after the fact. The same research indicates that
retrofitting sites by expanding electrical panels and adding wiring,
could cost as much as $3,550.
The ICC explains, “The proposed code [now adopted] will allow current
and future EV-owners to avoid the cost of electrical equipment
upgrades, demolition, and permitting for future retrofits.â€
ELECTRIC VEHICLE SUPPLY EQUIPMENT (EVSE). The conductors, including
the ungrounded, grounded, and equipment grounding conductors, and the
Electric Vehicle connectors, attachment plugs, and all other fittings,
devices, power outlets, or apparatus installed specifically for the
purpose of transferring energy between the premises wiring and the
Electric Vehicle.
EV CAPABLE SPACE. Electrical panel capacity and space to support a
minimum 40-ampere, 208/240-volt branch circuit for each EV parking
space, and the installation of raceways, both underground and surface
mounted, to support the EVSE.
EV READY SPACE. A designated parking space which is provided with
one 40-ampere, 208/240-volt dedicated branch circuit for EVSE servicing
Electric Vehicles. The circuit shall terminate in a suitable termination
point such as a receptacle, junction box, or an EVSE, and be located in
close proximity to the proposed location of the EV parking spaces.
While builders will make sure that there’s access to a 240-volt
supply, it’s up to owners or tenants to buy and install the charging
equipment.
The ICC says there will need to be 9.6 million new EV charging ports by 2030, with nearly 80% located in single and multi-family residential buildings. As any EV driver knows, home is where the vast majority of electric-car charging takes place.
Posted by AGORACOM-JC
at 2:36 PM on Wednesday, January 15th, 2020
SPONSOR: CardioComm Solutions (EKG: TSX-V)
– The heartbeat of cardiovascular medicine and telemedicine. Patented
systems enable medical professionals, patients, and other healthcare
professionals, clinics, hospitals and call centres to access and manage
patient information in a secure and reliable environment.
Current And Future Doctors Are More Than Ready to Use mHealth Wearables
A Stanford Medicine survey finds that doctors, residents and medical
students are finding value in data drawn from mHealth wearables – and
they’re using them as well. But they aren’t getting the training they
need or want.
Current and future physicians are eager to use self-reported data from patients with mHealth wearables
In fact, they’re using wearables themselves to track health concerns. Â
January 14, 2020 – Current and future physicians are eager to use
self-reported data from patients with mHealth wearables – in fact,
they’re using wearables themselves to track health concerns.
That’s one takeaway from Stanford Medicine’s 2020 Health Trends Report,
which finds that physicians are ready to use mHealth and telehealth
tools even if they aren’t getting the right training to use new
technology. Instead, they’re looking for the help they need to apply
connected health concepts to healthcare.
“We found that current and future physicians are not only open to new
technologies but are actively seeking training in subjects such as data
science to enhance care for their patients,†Lloyd Minor, MD, Dean of
the Stanford University School of Medicine, said in a press release.
“We are encouraged by these findings and the opportunity they present
to improve patient outcomes. At the same time, we must be clear-eyed
about the challenges that may stymie progress.â€
The survey shows an eagerness among those practicing medicine (or
getting ready to enter the field) to use connected health technology,
including consumer-facing mHealth wearables, even as questions remain on
their reliability and some payers are reluctant to cover their use.
According to the survey, which gathered the thoughts of more than 700
physicians, residents and medical students around the country, 83
percent of physicians and 79 percent of students and residents see value
in self-reported data from patients using wearables. Almost 80 percent
say that data holds value in clinical care management.
And they know from experience. Roughly half of those surveyed are
using wearables, with 60 percent of students and residents and 71
percent of physicians saying they use digital health data to inform
their own health decisions.
That said, those surveyed don’t think they’re getting the right training on how to use the technology.
Only 18 percent of students and residents said the education they’re
now getting is “very helpful,†while 44 percent of physicians said their
training was either “not very helpful†or “not helpful at all.†This
should put pressure on teaching hospitals to improve curricula and
training programs.
It’s also compelling current and future physicians to find new
sources of information to prepare them for a digital health workplace –
at a time when stress and burnout is high in the medical ranks.
According to the survey, 73 percent of medical students and 47
percent of physicians are seeking additional training, primarily in how
to use digital health data. Roughly a third are looking for help on how
to use artificial intelligence tools.
“The rise of the data-driven physician represents an opportunity to
positively transform medicine and improve health outcomes by bringing
new technologies and insights to the patient bedside,†Stanford Medicine
officials said in the press release. “However, as it stands today,
medical professionals still feel insufficiently trained to do so.
Moreover, promising medical talent is being held back by challenges such
as achieving work-life balance and student debt.â€
Tags: EKG, mhealth, small cap stocks, stocks, tsx, tsx-v Posted in CardioComm Solutions | Comments Off on Current And Future Doctors Are More Than Ready to Use #Mhealth Wearables – SPONSOR: CardioComm Solutions $EKG.ca – $ATE.ca $TLT.ca $OGI.ca $ACST.ca $IPA.ca
Posted by AGORACOM-JC
at 1:05 PM on Wednesday, January 15th, 2020
SPONSOR: Datametrex AI Limited
(TSX-V: DM) A revenue generating small cap A.I. company that NATO and
Canadian Defence are using to fight fake news & social media
threats. The company announced three $1M contacts in Q3-2019. Click here for more info.
Instagram begins to hide retouched images
With the desire to stop the images that convey fake news on its
platform, Instagram is starting to hide pictures that have been
artistically retouched.
In order to fight fake news, Instagram announced some new features
last month. Like content considered offensive, Instagram now blurs
images that convey false information. The social network further limits
the scope of the suspicious publication and does not make it appear in
the Explorer menu, or via hashtags. If the war on fake news starts with a
good intention, it would seem that the algorithm of the social network
works a little too well. Certain artistic photos retouched in a significant way have thus been assimilated to fake news and have been hidden on the social network.
As spotted PetaPixel , Toby Harriman, a photographer based
in San Francisco, realized this while browsing his Instagram feed. He
explains that he fell for the first time on the famous screen indicating
that the hidden publication would be false information. Curious, the
photographer still tried to click, before realizing that it was only a
photo of a man from behind surrounded by mountains of all colors.
We understand the reason why Instagram considered that the image
conveyed false information, since it was heavily retouched in order to
change the color of the mountains. It is clear, however, that the author
of the photo had an artistic approach here and did not seek to convey
false information. Officially, Instagram recognizes that its fake news
detection system uses “a combination of user feedback and technology†.
The verified photo is then sent to independent fact-chekers, who
determine whether the photo distorts reality. If so, Instagram will
limit the scope of the post, and hide it from the users’ news feed.
Posted by AGORACOM-JC
at 10:30 AM on Wednesday, January 15th, 2020
SPONSOR: BetterU Education Corp.
aims to provide access to quality education from around the world.
The company plans to bridge the prevailing gap in the education and job
industry and enhance the lives of its prospective learners by developing
an integrated ecosystem. Click here for more information.
Matrix Partners backs edtech startup Toddle
Educational technology startup Toddle has raised its first institutional funding round, led by Matrix Partners India.
Better Capital and angel investors such as Swiggy co-founder Rahul Jaimini also participated in the capital raising, Deepanshu Arora, cofounder of Toddle told ET, without disclosing the funding amount.
Educational technology startup Toddle has raised its first institutional funding round, led by Matrix Partners India.
Better Capital and angel investors such as Swiggy co-founder Rahul Jaimini also participated in the capital raising, Deepanshu Arora, cofounder of Toddle told ET, without disclosing the funding amount.
Bengaluru-based Toddle, which helps teachers streamline curriculum planning, documentation, parent communication and analytics, was founded last year by Arora and Parita Parekh.
Arora and Parekh earlier ran a network of pre-schools in Ahmedabad, Mumbai and Hyderabad. Toddle says it has more than 10,000 teachers on its platform.
“Today’s teachers are very tech-savvy and use technology for a variety of needs. The struggle is that they have to juggle between multiple tools to solve for these needs. Our goal is to simplify the entire teaching and learning cycle with one seamless and intuitive solution,†Arora said.
The company plans to use the money to cater to more educational segments.
“Having been educators themselves, the Toddle team has built a product that is revolutionizing the way teachers plan, interact and collaborate with other teachers, students and parents,†said Rajat Agarwal, Director, Matrix India.
The Indian ed-tech market is expected to reach $2 billion by 2021, according to a report by KPMG and Google.
Posted by AGORACOM-JC
at 9:43 AM on Wednesday, January 15th, 2020
SPONSOR:ThreeD Capital Inc. (IDK:CSE)
Led by legendary financier, Sheldon Inwentash, ThreeD is a
Canadian-based venture capital firm that only invests in best of breed
small-cap companies which are both defensible and mass scalable. More
than just lip service, Inwentash has financed many of Canada’s biggest
small-cap exits. Click Here For More Information.
Storming the Gates: How ‘Crypto Davos’ Became a Thing
In recent years the WEF Meeting has come under fire as a place where wealthy elites gather to discuss solutions to problems they helped create and perpetuate – problems many blockchain startups are working to solve.
But the reality of Davos lies somewhere between these two extremes.
This is part of a series
of op-eds previewing the World Economic Forum in Davos, Switzerland.
CoinDesk will be on the ground in Davos from Jan. 20–24 chronicling all
things crypto at the annual gathering of the world’s economic and
political elite. Follow along by subscribing to our pop-up newsletter, CoinDesk Confidential: Davos.
Sandra Ro is the CEO of the Global Blockchain Business Council (GBBC), which is organizing the four-day Blockchain Central Davos event.
The annual meeting of the World Economic Forum (WEF), renowned as a
place where business executives, government officials, entrepreneurs and
NGO leaders convene to create positive change, is days away.
In recent years the WEF Meeting
has come under fire as a place where wealthy elites gather to discuss
solutions to problems they helped create and perpetuate – problems many
blockchain startups are working to solve. But the reality of Davos lies
somewhere between these two extremes.
So why engage? Why do we keep going back?
WEF 2020
2020 is special: It’s the 50th anniversary of the WEF, a non-profit
foundation created in 1971 to engage society’s foremost political,
business and cultural leaders to shape global, regional and industry
agendas.
This year’s WEF theme is “Stakeholders for a Cohesive and Sustainable World.â€
Some of the broad questions to be asked: What does “stakeholder
capitalism†mean? Is it tracking progress towards the Paris Agreement
and the United Nations Sustainable Development Goals (SDGs)? How does
technology fit in?
“With the world at such critical crossroads, this year we must
develop a ‘Davos Manifesto 2020’ to reimagine the purpose and scorecards
for companies and governments,†said Klaus Schwab, founder and
executive chairman of the WEF.
If the world is at a crossroads, what is the role of
cryptocurrencies, digital assets and blockchain? And who gets to shape
and influence this future?
In short, should “Crypto Davos†collaborate with the established elites?
Crypto Davos, four+ years in the making
Crypto pioneers set up shop with Davos side events four or five years
ago. These were modest gatherings to discuss the future of
cryptocurrencies. Very few elites knew what this was, or paid it much
attention.
Just as bitcoin and ethereum began as organic grassroots initiatives,
Crypto Davos grew mainly by group chats and word of mouth. However, by
2018, Crypto Davos reached peak excess, coinciding with the boom of
ICOs. This was followed by muted numbers in 2019 with the bust, and now,
in 2020, a mix of Crypto Davos stalwarts are returning alongside
mainstream corporations that are ahead of the curve in embracing
blockchain and, sometimes, cryptocurrency. (Unfortunately, the mantra of
“blockchain good, crypto bad†lingers in certain corporate and
government circles, though it is dissipating over time.)
What happens at WEF’s official gathering is important, but most who
have attended Davos previously know that “the Promenade†is a beehive of
activity around cryptocurrencies, blockchain, AI, cybersecurity and
other emerging technologies. Many crypto people who attend Davos never
step foot inside the main event and do not hold a coveted “white badge.â€
Instead, they hang out on the Promenade and participate in a myriad of
panels, networking events and meetings, mixed with late-night partying
and bonding.
The Promenade blockchain events are in high demand and considered
cutting edge, thereby attracting some high-profile leaders who might
seem out of place under normal, stodgier circumstances. Seeing rock
stars, actors, CEOs, billionaires, social-impact entrepreneurs and
developers together is not unusual at Crypto Davos.
Where else do you see both Jamie Dimon and Jamie Oliver walking down
the same block within meters of each other? Or Michael Douglas walking
into an MIT-hosted lunch on AI and blockchain? (Seriously, that happened
back in 2017.)
So why did a bunch of crypto people start coming to Davos in the
first place? Switzerland’s crypto-friendly environment partially
explains the attraction.
But the secret sauce of Davos is not just about discussing important ideas.
Once you make it to this normally sleepy town, you are jumbled
together with 30,000 influential people on a few blocks of a “main
street.†It makes for an intense and rewarding four days of networking
and deal-making, which sets the tone for the rest of the year.
Crossover appeal
Crypto Davos, despite its outsider status, has influenced and changed the course of mainstream Davos.
Just look at 2020’s big thematic on “stakeholders in a cohesive and
sustainable world,†which covers everything from economics to climate
change to technology, and includes topics like digital identity, digital
asset regulation and central bank digital currencies (CBDCs).
In 2020, many, if not most, corporations participating at Davos have
internal blockchain projects and/or are members of digital asset groups.
Five years ago, the CEOs of these same corporations probably did not
know blockchain existed.
Crypto Davos has profoundly influenced the interest and growth of
digital assets and blockchain technology among some of the most elite
institutions, governments and world leaders.
Not bad for a bunch of outsiders.
Selling out?
To the cynics and anti-establishment crowd, we debate every year why
we pay exorbitant rates to put together an event at Davos. The high
costs, occasionally not-so-subtle hostility from the mainstream,
increasingly strict town council rules and the general logistics
nightmare are enough to deter most.
However, we return, because our supporters love attending. Why?
Because we have met some of the most awe-inspiring people at Davos, from
rocket scientists to world leaders to humanitarians.
With a combination of bright, motivated people, ideas turn into
action here: from investments to business deals to project launches. No
matter how great the tech, we are humans who make connections by meeting
each other, spending time with each other and, ultimately,
collaborating with each other.
The key for Crypto Davos is to keep influencing and building bridges
with the establishment to yield the societal change we want. Blockchain
works best when it’s collaborative. The same holds true at Davos: Crypto
Davos can improve and scale with the resources of large institutions;
Establishment Davos can reimagine business models and government
services to create a more equitable and functional society.
This grand experiment works best if people collaborate across geographies and disciplines.
Long live Crypto Davos (at least until the next better version comes along).
Posted by AGORACOM
at 9:38 AM on Wednesday, January 15th, 2020
Affinity Metals Corp. (TSXV: AFF) (“Affinity”) (“the
Corporation”) is pleased to release over-limit assays for samples from
the fall 2019 exploration on the Regal property located in the northern
end of the prolific Kootenay Arc approximately 35 km northeast of
Revelstoke, British Columbia, Canada.
As previously reported, the Corporation received assay results for all 22 rock samples collected from surface outcrops in September 2019 from the Black Jacket and ALLCO areas of the property. Of the 22 grab samples collected, the majority contained bonanza grade silver, zinc, and lead with many samples reaching assay over-limits. The over-limit results for zinc and lead are reported in the table below (italicized) beside the original assay values. Assay values for tin, including high grade samples 11, 14 and 20 which were over-limit in the original assay report, are also presented in the last column of the table.
Sample Number
Sample Type
Silver g/t
Copper %
Zinc %
Lead %
Gold g/t
Tin ppm
ALC19CR01
grab
0
.035
0
0
0
0.4
ALC19CR02
grab
1300
.415
18.20
>20.0 (35.69)
0.70
46.1
ALC19CR03
grab
120
.232
.034
.984
0.02
2.4
ALC19CR04
grab
131
.089
.026
.102
2.66
1.1
ALC10CR05
grab
16.7
.295
.060
.013
0.09
0.4
ALC19CR06
grab
74.9
.144
>30.00 (34.97)
.059
0.28
2.6
ALC19CR07
grab
10.05
.310
.086
.029
0.04
0.5
ALC19CR08
grab
1870
.495
24.5
>20.0 (31.90)
1.85
189.5
ALC19CR09
grab
88.1
.077
>30.00 (39.98)
1.88
0.08
32
ALC19CR10
grab
1545
.178
26.7
>20.0 (28.67)
0.68
373
ALC19CR11
grab
2360
.366
16.80
>20.0 (43.67)
0.11
900
ALC19CR12
grab
3700
.624
1.645
>20.0 (71.14)
3.14
273
ALC19CR13
grab
964
.716
17.30
17.5
0.11
386
ALC19CR14
grab
3530
.350
1.945
>20.0 (59.54)
1.57
1600
ALC19CR15
grab
3670
.026
1.895
>20.0 (77.01)
0.33
205
ALC19CR16
grab
1790
.107
5.28
>20.0 (52.77)
0.37
146.5
ALC19CR17
grab
751
.069
6.45
18.05
0.45
107
ALC19CR18
grab
1065
.718
.178
.514
0.10
7.6
ALC19CR19
grab
2510
.299
5.58
>20.0 (70.63)
0.06
167
ALC19CR20
grab
4410
2.27
26.40
>20.0 (21.56)
5.68
4500
ALC19CR21
grab
47.5
.177
.048
.092
1.78
8.8
ALC19CR22
grab
87.7
.095
.011
.047
4.79
2.9
As
part of the fall 2019 program, a total of 1,846.35 meters of diamond
drilling was completed with 21 holes being drilled. The drilling was
divided over two target areas with 10 holes allocated to testing one of
the phyllite/limestone contacts in the ALLCO area and 11 preliminary
confirmation holes designed to begin testing the historic 1971 resource
(pre NI43-101 and therefore not compliant) reported for the
Regal/Snowflake mines.
The core samples have been submitted to
MSA Laboratories in Langley, BC and assay results are pending and will
be reported once received.
Property History & Background
The
Regal Project hosts several past producing small-scale historic mines
including the Regal Silver. The property also hosts numerous promising
mineral occurrences. From the historic records it appears that most, and
perhaps all, of the known mineralized showings/zones have not been
previously drilled using modern diamond drilling methods.
Snowflake and Regal Silver (Stannex/Woolsey) Mines
The
Snowflake and Regal Silver mines were two former producing mines that
operated intermittently during the period 1936-1953. The last
significant work on the property took place from 1967-1970, when Stannex
Minerals completed 2,450 meters of underground development work and a
feasibility study but did not restart mining operations. In 1982,
reported reserves were 590,703 tonnes grading 71.6 grams per tonne
silver, 2.66 per cent lead, 1.26 per cent zinc, 1.1 per cent copper,
0.13 per cent tin and 0.015 per cent tungsten (Minfile No. 082N 004 –
Prospectus, Gunsteel Resources Inc., April 29, 1986). It should be noted
that the above resource and grades, although believed to be reliable,
were prepared prior to the adoption of NI43-101 and are not compliant
with current standards set out therein for calculating mineral resources
or reserves.
ALLCO Silver Mine
The ALLCO Silver Mine
is situated 6.35 Kilometers northwest of the above described
Snowflake/Regal Mine(s). The ALLCO Silver Mine operated from 1936-1937
and produced 213 tonnes of concentrates containing 11 troy ounces of
gold (1.55 g/t), 11,211 troy ounces of silver (1,637 g/t) and 173,159
lbs of lead (36.9%).
Airborne Geophysics to Guide Future Exploration
An
extensive airborne geophysics survey conducted by Geotech Ltd of
Aurora, Ontario, for Northaven Resources Corp. in 2011, identified four
well defined high potential linear targets correlating with the same
structural orientation as the Allco, Snowflake and Regal Silver mines.
Northaven also reported that the mineralogy and structural orientation
of the Allco, Snowflake and Regal Silver appeared to be similar to that
of Huakan’s J&L gold project located to the north, and on a similar
geophysical trend line. The J&L is reportedly now one of western
Canada’s largest undeveloped gold deposits.
After completing the
airborne survey, Northaven failed in financing their company and
conducting further exploration on the property and subsequently
forfeited the claims without any of the follow up work ever being
completed. Affinity Metals is in the fortunate position of benefitting
from this significant and promising geophysics data and associated
targets.
The aforementioned Northaven airborne geophysical survey
conducted at a cost of $319,458.95 in August of 2011 is described in The
BC Ministry of Energy, Mines and Petroleum Resources Assessment Report
#33054. The results of the survey are competently explained and
illustrated by professionals on You Tube at: https://www.youtube.com/watch?v=GX431eBY_t0
Condor
Consulting, Inc. who compiled the survey data and produced the original
geophysics report was recently retained by Affinity in order to provide
more detailed interpretations and potential drill target locations with
the aim of testing two of the four target areas in the future.
Earth Sciences Services Corp. (ESSCO) has also provided acoustical geophysics data for portions of the Regal property.
The
Corporation is in the process of correlating and interpreting all of
the historic and new geophysical data with the objective of further
advancing exploration plans and associated drill targets.
Affinity
Metals has been granted a 5 Year Multi-Year-Area-Based (MYAB)
exploration permit which includes approval for 51 drill sites.
Qualified Person
The
qualified person for the Regal Project for the purposes of National
Instrument 43-101 is Frank O’Grady, P.Eng. He has read and approved the
scientific and technical information that forms the basis for the
disclosure contained in this news release.
About Affinity Metals
Affinity Metals is focused on the acquisition, exploration and development of strategic metal deposits within North America.
The Corporation’s flagship project and present focus is the Regal.
On behalf of the Board of Directors
Robert Edwards, CEO and Director of Affinity Metals Corp.
Posted by AGORACOM
at 9:18 AM on Wednesday, January 15th, 2020
Vancouver, British Columbia–(Newsfile Corp. – January 15, 2020) – Lomiko Metals Inc.
(TSXV: LMR) would like to cordially invite you to visit us at Booth
#1030 at the Vancouver Resource Investment Conference (VRIC) to be held
at the Vancouver Convention Centre West (1055 Canada Place, Vancouver)
on Sunday January 19 – Monday January 20, 2020.
The Vancouver Resource Investment Conference has been the bellwether
of the junior mining market for the last twenty-five years. It is the
number one source of information for investment trends and ideas,
covering all aspects of the natural resource industry.
Each year, the VRIC hosts over 60 keynote speakers, 350 exhibiting companies and 9000 investors.
Investment thought leaders and wealth influencers provide our
audiences with valuable insights. C-suite company executives covering
every corner of the mineral exploration sector as well as metals, oil
& gas, renewable energy, media and financial services companies are
available to speak one on one. This is a must-attend for investors and
stakeholders in the global mining industry.
BlackRock CEO says the climate crisis is about to trigger ‘a fundamental reshaping of finance’
In an annual letter to CEOs published Tuesday, BlackRock chief
executive Larry Fink said: “Climate change has become a defining factor
in companies’ long-term prospects.â€
“But awareness is rapidly changing, and I believe we are on the edge of a fundamental reshaping of finance,†he added.
BlackRock’s assets under management totaled almost $7 trillion in the third quarter of 2019.
The chief of the world’s largest money
manager believes the intensifying climate crisis will bring about a
fundamental reshaping of finance, with a significant reallocation of
capital set to take place “sooner than most anticipate.â€
In an annual letter to CEOs published Tuesday, BlackRock Chief Executive Larry Fink
said: “Climate change has become a defining factor in companies’
long-term prospects … But awareness is rapidly changing, and I believe
we are on the edge of a fundamental reshaping of finance.â€
Fink’s comments come as business leaders, policymakers and investors prepare to travel to Davos, Switzerland for the World Economic Forum next week.
The theme at this year’s January
get-together, which is often criticized for being out of touch with the
real world, has been designated as “Stakeholders for a Cohesive and
Sustainable World.â€
“Climate change is almost invariably the
top issue that clients around the world raise with BlackRock. From
Europe to Australia, South America to China, Florida to Oregon,
investors are asking how they should modify their portfolios,†Fink
continued.
“And because capital markets pull future
risk forward, we will see changes in capital allocation more quickly
than we see changes to the climate itself.â€
“In the near future — and sooner than most anticipate — there will be a significant reallocation of capital,†he added.
‘Defining issue of our time’
Alongside 20 other young climate
activists, Sweden’s Greta Thunberg has called on all of those attending
the World Economic Forum in the Swiss Alps to stop the “madness†of
ongoing investments in fossil fuel exploration and extraction and
“completely divest†from fossil fuels.
In an op-ed for The Guardian,
published Friday, Thunberg — who was catapulted to fame for skipping
school every Friday to hold a weekly vigil outside Swedish parliament in
2018 — said global leaders must also “end all fossil fuel subsidies.â€
Protesting against political inaction
over climate change, the 17-year-old sparked an international wave of
school strikes — also known as “Fridays for Future†— with millions of
other children following suit in cities around the world last year.
The United Nations has recognized climate
change as “the defining issue of our time,†with a recent report
calling the crisis “the greatest challenge to sustainable development.â€
‘Climate change is different’ to other crises
“Over the 40 years of my career in
finance, I have witnessed a number of financial crises and challenges —
the inflation spikes of the 1970s and early 1980s, the Asian currency
crisis in 1997, the dot-com bubble, and the global financial crisis,â€
BlackRock’s Fink said.
“Even when these episodes lasted for many
years, they were all, in the broad scheme of things, short-term in
nature. Climate change is different.â€
“Even if only a fraction of the projected
impacts is realized, this is a much more structural, long-term crisis.
Companies, investors, and governments must prepare for a significant
reallocation of capital,†he added.
Australia has drawn global attention in
recent months, with the country currently experiencing one of its worst
bush fire seasons on record.
Record high temperatures and drought exacerbated by the climate crisis have ignited blazes that have killed more than two dozen people and destroyed 2,000 homes since September.
