Illustration: Sarah Grillo/Axios This year’s chairman’s letter from BlackRock CEO Larry Fink, published Wednesday, gives less emphasis to climate risk and environmental, social and governance (ESG) investments than past letters — but doesn’t play down the substance. Why it matters: As the head of the world’s largest asset manager, Fink’s letters are widely taken as a signal for how the financial community is thinking about certain topics, and how policy makers may need to respond. Driving the news: His latest letter departs from those of the past several years, which focused largely on the need to incorporate climate risk, ESG concerns and broader corporate responsibility issues into how business should…