VIJAY JAYARAJ: Blackrock CEO Abandons Climate Delusion For Investor Needs

(Photo by Jamie McCarthy via Getty Images)

BlackRock CEO Larry Fink has publicly shifted toward what he calls energy pragmatism, admitting that society now demands a balanced approach to meeting power needs rather than adherence to rigid climate agendas. This could be a pivotal moment for global energy policy, as one of the planet’s most powerful financial players steps back from decades of ill-advised “green” mandates.

BlackRock is the world’s top financial manager, overseeing more than $10 trillion in assets that sway markets, companies and even governments. It delivers risk analysis tools that guide how firms allocate capital, set strategies and tackle issues from energy supply to corporate governance. BlackRock’s hand is in everything from pension funds to sovereign wealth, where its votes and investments steer decisions affecting wide swaths of society.

Fink points to China, which leads in new nuclear plants and vast solar installations while importing record volumes of natural gas and oil to meet surging demand. “Society has moved into a better position of having more pragmatism,” Fink states, “and what you’re hearing from me is I’m echoing what we’re hearing from our clients.” Better to have clients than ideologues steering the ship. (RELATED: Former Top Obama Administration........

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