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BlackRock’s Larry Fink Tells an Inconvenient Truth
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In his annual letter to CEOs, investment heavyweight BlackRock’s CEO, Larry Fink, addressed decarbonization as a major driving force in investment strategy going forward. But notably, he identified the problem of cost. Alternate energy is too expensive, and as long as it remains that way, the transition to green energy will be glacially slow. The solution, according to Fink, is investment in a new generation of alternate energy startups, similar to the manner in which Silicon Valley launched the modern software industry. The pooled investment capital available is at historic highs, and fund managers like Fink appear ready to write the check. All that’s missing are the engineering entrepreneurs to kickstart the revolution.
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