The CEO of investment firm Blackrock said skyrocketing energy prices are shrinking the “green premium” and driving more investment into green energy sources.
Larry Fink was being interviewed by former President Bill Clinton as part of the Clinton Global Initiative when he was doing this Comments to defend the ESG environmental rating.
“Due to the increased energy prices, we will certainly see that the environmental bonus is shrinking considerably,” said Frink.
“And so the amount of investment dollars going into new decarbonization technologies is accelerating, and it’s accelerating very quickly,” he added.
ESG, which stands for an assessment of the left’s environmental, social and corporate governance values, has been used to pressure companies to serve a green energy agenda. Among the most vocal critics of ESG implementation is Republican Florida Governor Ron DeSantis.
Clinton commended Frink for being among the leading promoters of ESG to rebuild society. Despite admitting that ESG is making the energy crisis worse, Frink said the crisis is causing instability around the world.
“We’re going to be in a state of upheaval over the next seven months,” Frink said.
“And it won’t be a nice transition. We have food insecurity around the world, which will lead to an even bigger crisis. We haven’t seen all the gains we should expect in food. We currently have short-term energy supply imbalances,” he explained.
“And on top of that, we have the European government, the UK government and the United States government doing quite a bit of fiscal stimulus at a time when we are seeing record inflation,” Frink added.
He continued that there is a lack of hope in the world and fears of economic instability are growing.
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ESG IS HERE: Citi’s latest move to drive the GREAT RESET
https://www.theblaze.com/news/blackrock-fink-energy-boosts-investment Blackrock CEO says energy price crisis is accelerating green energy investments