logo
  

BlackRock To Buy And Integrate Baringa Partners' Climate Change Scenario Model; Terms Not Disclosed

BlackRock, Inc. (BLK) announced Thursday a definitive agreement to acquire and integrate Baringa Partners' Climate Change Scenario Model into BlackRock's Aladdin Climate technology. The financial terms of the deal were not disclosed.

The companies collaborate to set the standard for modelling the impacts of climate change and the transition to a low carbon economy on financial assets for investors, banks and other
clients.

The companies said the new long-term partnership is a significant milestone for both firms.

In the deal, Baringa and BlackRock will bring together their expertise to develop climate risk models underpinning Aladdin Climate, as well as innovating other climate analytics solutions.

Through the partnership, Baringa will use the core Aladdin Climate capabilities as part of its growing global consulting work in advising financial services, governments, regulatory bodies, and clients across all sectors on climate risk and developing net zero strategies.

Sudhir Nair, Global Head of the Aladdin Business at BlackRock said, "Investors and companies are increasingly recognising that climate risk presents investment risk. Through this partnership with Baringa, we are raising the industry bar for climate analytics and risk management tools, so clients can build and customise more sustainable portfolios."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
MTD Products Inc. is recalling 1,774 units of walk-behind self-propelled lawn mowers for potential risk of fire hazard, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. The company said the lawn mower can leak fuel when it is stored in the upright (vertical) storage position to pose a fire hazard. Nike Inc. announced its plans to exit the Russian market completely following Russia's ongoing war against Ukraine, reports said. The sportswear major, with more than 100 stores in the country, had suspended operations there in March. Earlier in March, while suspending operations temporarily, the company had said its customers that it couldn't guarantee product shipments. The U.S. Food and Drug Administration unveiled its action plan to advance drug development for rare neurodegenerative diseases, including Amyotrophic Lateral Sclerosis or ALS, in five years. The FDA plans specific actions such as regulatory science initiatives, enhancements to existing programs and new policy initiatives for the purpose. It will use public-private partnerships...
Follow RTT