The current cost of decarbonising technologies is still high, and therefore highly inflationary, according to Larry Fink, CEO and Chairman of BlackRock, the US multinational investment company that manages over a $1 trillion in sustainable investments.
Speaking at the energy conference CERAWeek by S&P Global in Houston, he said energy gave Europe a “wake-up call” and is now calling for more pragmatism around green investments.
“Everyone talks about the opportunity with hydrogen – we can have blue and green hydrogen but is anyone willing to pay the cost?” he said. “We have to be working side by side in trying to find ways to reduce the cost of wind, solar and other energy sources. Let’s be clear – we’re going to be dependent on dispatchable power for some time.”
While US energy strategies are being worked on by the new Trump administration, China is building 100GW of nuclear power, he added. “We just have to be aware of how the world is rapidly changing. But gas will play a major role in the US for tens of years, maybe 50-plus years.”
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