Blackrock: Investors Cannot ‘’Run Away’’ From Oil Industry ...Middle East

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Blackrock: Investors Cannot ‘’Run Away’’ From Oil Industry
source : OILPRICE ( Middle East ) () 7
BlackRock, the world’s largest asset manager, will continue to work with oil and gas firms in order to help them through the energy transition, Reuters quoted chief executive Larry Fink as saying on Thursday. BlackRock is a major shareholder in many large oil and gas companies, including in the two U.S. supermajors, ExxonMobil and Chevron. Investors cannot “run away” from the oil and gas industry, Fink said. Most of the decarbonization costs now fall on the private sector, the executive added, and suggested that governments should…

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