Few private citizens wield more power in America today than Larry Fink, the chief executive of BlackRock Inc. In pushing companies to embrace climate-friendly policies, that has made him a lightning rod.

The firm he runs manages some $10tn for pension funds, endowments, governments, companies and individuals, equal to more than 10% of the world’s gross domestic product in 2020. Its funds are among the three largest shareholders in more than 80% of the companies in the S&P 500.