{"id":129125,"date":"2021-06-17T08:48:20","date_gmt":"2021-06-17T08:48:20","guid":{"rendered":"https:\/\/precoinnews.com\/?p=129125"},"modified":"2021-06-17T08:48:20","modified_gmt":"2021-06-17T08:48:20","slug":"blackrock-to-buy-baringa-partners-climate-tech-for-aladdin","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/blackrock-to-buy-baringa-partners-climate-tech-for-aladdin\/","title":{"rendered":"BlackRock to buy Baringa Partners&#x27; climate tech for Aladdin"},"content":{"rendered":"<figcaption>FILE PHOTO: The BlackRock logo is pictured outside their headquarters in the Manhattan borough of New York City, New York, U.S., May 25, 2021.  REUTERS\/Carlo Allegri\/File Photo<\/figcaption><p>LONDON (Reuters) &#8211; BlackRock said on Thursday it had agreed a deal with Baringa Partners to buy the consultancy\u2019s climate-modelling technology for use in its Aladdin risk management system.<\/p>\n<p>Aladdin, used by money managers running trillions of dollars in assets to help build portfolios and manage the investment process, is an increasingly important revenue driver for BlackRock, which itself manages around $9 trillion in assets.<\/p>\n<p>Baringa\u2019s modelling, meanwhile, is used by governments and financial services companies to manage climate risk and plan their transition to a lower-carbon economy.<\/p>\n<p>The long-term partnership will see BlackRock, the world\u2019s largest asset manager, acquire Baringa\u2019s Climate Change Scenario Model and integrate it into Aladdin.<\/p>\n<p>\u201cInvestors 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,\u201d said Sudhir Nair, Global Head of the Aladdin Business at BlackRock.<\/p>\n<p>The deal comes as a growing number of investors around the world pledge to align their portfolios with the global effort to cap greenhouse gas emissions by mid-century.<\/p>\n<p>Financial details were not disclosed, nor were the terms of the partnership agreement.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/climate-change-blackrock\/blackrock-to-buy-baringa-partners-climate-tech-for-aladdin-idUSL5N2NY3TG\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FILE PHOTO: The BlackRock logo is pictured<\/p>\n","protected":false},"author":3,"featured_media":129124,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BlackRock to buy Baringa Partners&#x27; 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