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BlackRock Sees Major Increase in Climate Commitments This Decade

  • Firm says move reflects significant change in investor demands
  • War in Ukraine, energy crunch may make for a bumpy transition
Emissions from a South Africa coal-fired plant.

Emissions from a South Africa coal-fired plant.

Photographer: Waldo Swiegers/Bloomberg

BlackRock Inc. expects commitments to curb greenhouse-gas emissions will rise significantly by 2030, with most of its assets invested in companies and sovereign debt issuers that have specific targets for arresting global warming.

In the first public estimate of its kind by the world’s biggest asset manager, BlackRock said Thursday that the share of its assets invested in corporations and sovereign governments with science-based targets will rise to 75% by the end of the decade from 25% now.