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BlackRock Bullish on Energy Firms Seeking to Curb Emissions

  • Transitioning to net-zero to take decades, asset manager says
  • CEO Fink positioning Blackrock as sustainable investing leader
BlackRock Rises as Revenue, Earnings Top Estimates
Photographer: Jeenah Moon/Bloomberg
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BlackRock Inc., the world’s largest money manager, told clients that financial markets are just starting to price in the effects of climate change, which creates significant investment opportunities in industries including oil and gas. 

Transitioning to net-zero carbon emissions will take decades and risks include energy price swings, BlackRock senior executives wrote in a letter to clients and a research paper. Investing in fossil fuel companies that are working to reduce their carbon footprint is an “under-appreciated opportunity,” according to the asset manager.