The company said it projects that by 2030, most of its investments will be in organizations and governments tied to issuers with a scientific target to reduce net greenhouse gas emissions to zero by 2050, according to BlackRock.
While the company claims it wants to help businesses meet sustainable climate goals, Blackrock has raised eyebrows with the recent discovery of how much the company supports the Chinese Communist Party , according to a Reuters report.
One of the primary goals of the investment portfolio is to advance upon the Net Zero Asset Managers Initiative’s objective of reducing emissions and “limit warming to 1.5 degrees Celsius,” according to NZAM’s website.
Blackrock, which manages $9.6 trillion in assets, joined the group in March 2021, Reuters reported.
The move will help participating parties through “investment risks and opportunities, not to engineer a specific decarbonization outcome in the real economy,” BlackRock said in a statement.
“Our clients’ portfolios – which reflect the global economy – cannot reach net zero without sustained and consistent government policy, accelerated technological breakthroughs, and substantial adaptation in corporate business models,” the company said. “These portfolios will reflect the regulatory and legislative choices governments make to balance the need for reliable and affordable energy, and orderly decarbonization.”