Tech's Cost Competitiveness Key to Energy Transition, Says BlackRock

BlackRock CEO Larry Fink emphasized that there can be no energy transition without the development of cost-competitive renewable energy technologies. Fink highlighted the importance of finding ways to bring down the competitive cost of renewables, as elevated energy prices can hinder the transition and lead to increased coal usage in emerging nations. He called for a reimagination of finance to provide the necessary funding for decarbonization efforts in these nations. Fink's remarks align with a survey conducted by BlackRock, which revealed that 57% of their global investors plan to invest more in decarbonization technologies.