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With the reality of COVID-19 and quarantine keeping Americans stuck indoors, it can be tough to face the day. However, good news still exists, even in times like these. I’m 90.5 KCSU News Director Max Hunter and This is…
NEWS TO CURE THE BLUES
Some Good News From China’s Most Famous Pandas
You may not know their names, but you’ve probably heard the story of Le Le and Ying Ying, two giant pandas living together in Ocean Park, Hong Kong. Le Le and Ying Ying have lived in Ocean Park since 2007, where they were part of a panda breeding program. The pair have been the subject of many news articles over the last ten years, mainly due to the fact that they have never bred despite zookeepers best attempts.
While the pandas’ inability to mate has confused zookeepers and researchers alike, the recent Coronavirus lockdown in China, and subsequent Zoo closure, might shed some light on the potential issue: They needed more privacy.
Two days ago, the Ocean park Zoo announced that Le Le and Ying Ying had successfully mated in the closed zoo. According to the press release, the Zoo is hopeful this will lead to Le Le and Ying Ying’s first panda cubs later this year.
For some conservationists, Le Le and Ying Ying have been a source of debate regarding the effectiveness of zoo breeding programs. For some, the previous lack of success from Le Le and Ying Ying was an example of why zoo breeding programs fail. The zoos don’t feel that way. Researchers at the San Diego Zoo, who have one of the largest zoo breeding programs in the world, emphasize the need for captive breeding programs in order to bolster animal populations and raise baby animals so they can be sent into the wild.
World’s Largest Asset Management Company Shifts Focus to Climate Change
Larry Fink is another name you’ve probably never heard before, unless you’re very knowledgeable about the business world. Larry Fink runs BlackRock, the world’s largest asset management company. As of last year, BlackRock had over 7.4 Trillion Dollars worth of assets in the company’s holdings. According to Investopedia Blackrock is the world’s largest provider of Exchange-Traded Funds (or ETF’s), and owns the money and assets of major companies all over the world.
Now, Larry Fink has decided to use BlackRock to fight climate change. On April 7th Fink sent out his yearly letter to shareholders and client CEOs, letting them know climate change was going to be his primary investing focus. Fink emphasizes that his role, and that of all other CEOs, should be to ensure stability in the future for the general public, not just for shareholders.
Not only does the letter say Fink thinks that serious action against global warming is a CEO’s responsibility, but that he’s acting on it. Since BlackRock is an asset management company, they can’t control if their clients are causing environmental damage, but they are now going to require comprehensive reports of climate impact from any entity that requests loans or assets from them.
Blackrock is also moving to divest in coal and fossil fuels, and will be divesting from any company that uses those for more than 25% of their business. You can read the full letter on BlackRock’s website.
As this is a move intended to motivate BlackRock’s clients to invest in fighting climate change, it will be interesting to see if other major businesses follow suit.
This has been News to Cure the Blues. All music in this episode was made by me, and I’m 90.5 KCSU News Director Maximos Hunter. Let’s all try to stay healthy, well rested, and positive.
The News to Cure the Blues Logo was created by Pam Sera
Sources:
Fink, Larry. “Larry Fink’s Letter to CEOs.” BlackRock, July 2020, www.blackrock.com/corporate/investor-relations/larry-fink-ceo-letter.
Greggor, Alison L., et al. “Animal Welfare in Conservation Breeding: Applications and Challenges.” Frontiers in Veterinary Science, vol. 5, 2018, doi:10.3389/fvets.2018.00323.
“Ocean Park Giant Pandas Ying Ying and Le Le Experienced First Successful Natural Mating.” Ocean Park Hong Kong, 6 Apr. 2020, www.oceanpark.com.hk/en/press-release/ocean-park-giant-pandas-ying-ying-and-le-le-experienced-first-successful-natural.
Reiff, Nathan. “How BlackRock Makes Money: Investment and Advisory Fees.” Investopedia, Investopedia, 9 Mar. 2020, www.investopedia.com/articles/markets/012616/how-blackrock-makes-money.asp.