BlackRock , the world's biggest asset manager, told a British parliamentary committee that it will not stop investing in coal, oil and gas, and that its role was not to 'engineer a specific decarbonization outcome in the real economy.'
, the world's biggest asset manager, told a British parliamentary committee that it will not stop investing in coal, oil and gas, and that its role was not to "engineer a specific decarbonization outcome in the real economy."
The GFANZ calls itself the world's largest coalition of financial institutions committed to transitioning the global economy to net-zero greenhouse gas emissions, with 500 members from over 45 countries.When asked by the committee whether it would support a net-zero scenario that called for "no new investment is needed in coal, oil, and gas," BlackRock said: "No."
BlackRock's boss Larry Fink has defended the company's energy investments from criticism from many sides in the debate on low-carbon fuels."BlackRock is developing tools that help our investors and clients assess how the transition is likely to unfold and to support clients’ navigation of the transition and – for those who choose – to accelerate it."
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