BlackRock chief executive Larry Fink last month wrote to the bosses of some of the world's largest companies, urging them to take the threat of climate change more seriously and demanding they disclose how they intend to transition to a net zero economy.

Now the $8.7tn asset manager outlined the steps it expects companies, boards and management teams to take in order for businesses to achieve this goal — where global warming is limited to well below 2 degrees Celsius and consistent with a global aspiration of net zero greenhouse gas emissions by 2050.