Blackrock’s announcement on sustainable investments
(Sustainabilityenvironment.com) – It is not yet an official target for sustainable investment, but it is close enough. In recent days, the largest investment company in the world, Blackrock, has defined what will be the “climate” composition of its portfolio in 2030.
By the end of the decade, at least 75% of its investments in companies and sovereign wealth funds will have to be tied to plans to achieve climate neutrality by 2050. And these plans will have to be more than just announcements and be based on scientific evidence.
The objective is therefore to triple the number of companies and government funds that set serious and credible plans for the energy transition.
To date, the financial giant has among its assets a share classifiable as sustainable investments with these criteria of about 25%.
There is as yet no official objective, there is more of a horizon towards which to strive. However, the importance of Blackrock is such that this announcement alone can accelerate the adoption of net-zero plans. The asset manager, in fact, controls a portfolio of almost 10 trillion dollars. The assets that will be affected by the shift towards sustainable investments are 77% of the total.
“Since an orderly net-zero transition by 2050 would benefit the global economy and our customers in general, we believe that by 2030, all issuers would benefit from the development and implementation of robust transition plans”, writes Blackrock in a note. “As the transition progresses and Issuers and asset owners continue to position themselves against it, we expect that by 2030, at least 75% of corporate and sovereign BlackRock assets managed on behalf of clients will be invested in Issuers with science-based or equivalent objectives”