BlackRock Is Turning Up The Heat On Oil Companies

The more your firms are seen to embrace the climate transition and the opportunities it brings, the more the market will reward your firms with higher valuations.- Larry Fink, CEO BlackRock Inc. Last month, New York City’s Mayor Bill de Blasio and Comptroller Scott M. Stringer sent shockwaves through the oil and gas sector after they announced that the city’s $226B pension fund plans to divest the majority of its fossil fuel investments over the next five years and also cut ties with other companies that have been contributing…