The greening of BlackRock: What it means for energy

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17 January 2020

The greening of BlackRock: What it means for energy

Report summary

In Energy Pulse this week: BlackRock, the world’s largest fund manager, has for a few years been talking about climate change, but taking only limited action. Now that seems to be changing. BlackRock this week announced a new ambition to “put sustainability at the centre of our investment approach”, and a series of specific commitments to implement that strategy. Its new approach does not mean divestment from fossil fuels, except for companies heavily dependent on revenues from thermal coal, but it will mean a profound shift in BlackRock’s involvement with the companies where it invests. In other news, China has agreed to buy $52.4bn worth of additional oil, gas and coal from the US over the coming two years; Microsoft has set a goal of becoming “carbon negative” by 2030; and renewables dominate investment in new power generation capacity in the US. Also, the fascinating story of the Cold War race to drill the world’s deepest hole.

Table of contents

Tables and charts

This report includes 3 images and tables including:

  • US energy exports to China ($bn)
  • Planned U.S. electric generating capacity additions (2020)
  • Over the last century, the world has experienced unprecedented economic growth, primarily driven by energy use

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    The greening of BlackRock: What it means for energy

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