news/AMZN/2023.02.03/BlackRock sustainability chief Bodnar to join Bezos Earth Fund - memo.txt

*To leave BlackRock in April after two years*Will join $10 billion Bezos Earth Fund*Bodnar was previously global head of sustainable investingLONDON, Feb 3 (Reuters) - Paul Bodnar, the head of
sustainability policy and engagement at BlackRock, the
world's biggest asset manager, is to join tech mogul Jeff Bezos'
$10 billion Bezos Earth Fund, a memo to staff on Friday reviewed
by Reuters shows.The April move will mark the end of a two-year stint at the
company for Bodnar, who was previously global head of BlackRock
Sustainable Investing. He took up his most recent role during a
reorganisation of BlackRock's sustainability efforts in October.It follows a tough time for the company as it faces pressure
from campaigners to push for faster climate action by companies,
and concern from some U.S. politicians that doing so could
impact investor returns.The memo said BlackRock assets invested through its
dedicated sustainable investing platform now stood at around
$500 billion of its total of roughly $8.6 trillion in assets,
and Bodnar had been "central to that success"."Paul approached us recently with a plan to return to his
career path in the impact world, and today it will be announced
that he will be joining the Bezos Earth Fund to oversee programs
that involve collaboration among financial services, the real
economy and governments," the memo said.
(Reporting by Simon Jessop
Editing by Mark Potter)