BlackRock boss Fink: Sustainable ETF industry to hit £400bn by 2030

Will be 'core to all great portfolios'

BlackRock chairman and chief executive Larry Fink has predicted assets in ETFs which include environmental, social and governance (ESG) factors will hit more than $400bn in the next decade, as he says they will eventually be equivalent to core portfolios.

In an interview with the Financial Times, Fink said he wants BlackRock to become a global leader in sustainable investing, adding investors did not have to sacrifice returns when gaining exposure to ESG products. ESG ETFs currently have $25bn in assets under management (AUM) globally with BlackRock's market share totalling $7bn. "Sustainable investing will be a core component for how everyone invests in the future," Fink said. "We are only at the early stages." His comments come after Investment Week revealed the firm was planning to launch a suite of six ESG-screened ETFs in Europ...