BlackRock tells UK 'no' to halting investment in coal, oil and gas

, 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."

Diverse from this horrible institution.

Here here

BlackRock (BLK.N), 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.' GwedeMantashe1

If you want to find government powerful enough to direct investment giants where to put their trillions, look to China..there are still way too much demand for fossil fuels at the present for sensible investors to ignore the massive upsides short/medium term in valuation..

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bankers told they can ignore binding fossil-finance restrictionsThe world’s biggest climate coalition for bankers says it has the right to ignore a proposal that would require members to phase out the financing of fossil fuels. energy mining coal
Source: mining - 🏆 449. / 53 Read more »

Analysis: UK crisis forces 'off kilter' businesses to halt investmentBritish companies have struggled to navigate a fractious political landscape ever since Britain voted to leave the EU without a plan. But the fallout from Prime Minister Liz Truss' now-abandoned mini-budget has taken that to another level It is increasingly clear that British PM Liz Truss can only speak without real action. She can only say apologies after apologies without being able to provide solutions for the British economy. Enjoy inflation and economic recession, madam Liz...😉😘
Source: Reuters - 🏆 2. / 97 Read more »