Illustration by Thomas Kuhlenbeck / Ikon Images As the CEO of BlackRock, the world’s largest asset manager, Larry Fink directs the investment of nine trillion dollars of other people’s money. Each year, Fink writes a letter to the CEOs of all the companies in which BlackRock invests. In 2020 he wrote that he had foreseen “a fundamental reshaping of finance” in response to climate change, which would usher in “changes in capital allocation more quickly than we see changes to the climate itself”. Or at least that was the theory. The reality, according to analysis published today by the think...