Speaking online as part of BlackRock’s 2021 market outlook, CEO Larry Fink said that the shift to sustainability is as significant as anything he has ever seen in the industry.

‘In my 40-plus years of being in finance, I have witnessed two big changes,’ said Fink. ‘The first one was when I was young and I started in the mortgage industry. I saw what securitisation was going to do to capital markets and how that was going to transform housing in America, and global capital markets.

‘I believe sustainability is going to be as transformational.’