BlackRock backs new hub for company climate data

Wall Street giant BlackRock announced Tuesday that it is backing a new London-based research hub that will provide asset managers with information on how the companies they invest in are addressing risks from climate change.

BlackRock said it is joining the Transition Pathway Initiative, or TPI, a London-based group that is already supported by dozens of major institutional investors, from banks to public retirement funds.

BlackRock’s chief executive announced a shift toward more sustainable investments almost two years ago.