The CEO of BlackRock, Larry Fink, has issued another public letter to companies and CEOs about climate change. Last year it was about getting companies to disclose climate‐related risks in line with the TCFD's recommendations. And this year, Fink is pushing companies to set net zero emissions targets by 2050 at the latest. We discuss how both the TCFD recommendations have fared and what we think about net zero emissions targets. Then we discuss how market concentration has changed due to the global pandemic. If you would like to see the research that accompanies the market concentration discussion, please click this link: https://www.msci.com/insights-gallery/industry-concentration-in-the-us.