Carbon Bubble
BlackRock’s Record-Breaking ESG Fund Looks Just Like a Big Tech ETF
The Carbon Transition fund’s largest holdings are Apple, Microsoft, Amazon.com, Alphabet and Facebook.
The top holdings in the U.S. Carbon Transition Readiness ETF include Apple Inc., headquartered in Cupertino, California, among other tech megacaps.
Photographer: Sam Hall/BloombergThis article is for subscribers only.
As the biggest launch in the history of ETFs, it’s a ringing endorsement of all things ESG. But beyond its billion-dollar debut, BlackRock Inc.’s new fund might feel awfully familiar to most investors.
The top holdings in the U.S. Carbon Transition Readiness ETF (ticker LCTU) -- which lured about $1.25 billion in its first day on Thursday -- turn out to be Apple Inc., Microsoft Corp., Amazon.com Inc., Alphabet Inc. and Facebook Inc.