BlackRock, Temasek to Raise Billions for Carbon-Cutting Starhttps://ca.finance.yahoo.com/news/blackrock-temasek-raise-billions-carbon-220011021.html Intersting read........................
BlackRock Inc. and Singapore’s Temasek Holdings Pte. formed a new firm, Decarbonization Partners, to take stakes in startups that have the potential to reduce the world’s reliance on fossil fuels and meet the goal of zero-carbon emissions in three decades. They’re committing a total of $600 million to the effort, including $300 million of seed capital for a $1 billion first fund, and raising the rest from outside investors.
Eventually, Decarbonization Partners aims to manage billions across multiple funds, BlackRock Chief Executive Officer Larry Fink said in an interview with Bloomberg Television, adding, “I look at this as one of the greatest investment opportunities over our lifetimes.”
Although renewables are displacing coal in power generation and electric vehicles can be cost-competitive with gasoline-driven cars, there are no viable solutions for problems like large-scale storage of energy or clean alternatives to carbon-intensive cement and steel production. Hydrocarbons still dominate much of the economy because they're cheap and easy to transport.
Lets hope that someone introduces them to PYR.