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BlackRock Highlights Forces Shaping Low-Carbon Transition Investment Mega Trend – ESG Today
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Energy Transition/ Investors
BlackRock Highlights Forces Shaping Low-Carbon Transition Investment Mega Trend
Mark Segal
March 13, 2024
Investment giant BlackRock outlined a series of key developments that it expects to impact low-carbon transition-related investment opportunities and risks in 2024, including falling battery prices, upcoming elections, and rising physical climate risks, in a new report released by it insights and market commentary unit, BlackRock Investment Institute.
The new report follows the identification of BlackRock of the low-carbon transition late last year as one of a few key “mega forces” that it expects to drive “major investment opportunities” over 2024, calling out specific infrastructure-related areas including clean energy and electrification, with a “massive reallocation of capital” expected to be driven by the need to rewire energy systems, as well as investment opportunities in climate resilience, or the preparation and adaptation to climate hazards and rebuilding after climate-related damage.
One of the key “potentially market-moving developments” highlighted by the new report includes the continued long-term reduction in battery prices, with drivers including an 80% drop in lithium prices, intense competition and technological advancements anticipated to lead to further sharp price cuts. BlackRock notes the potential for lower battery prices to feed through to final purchase prices for clean technologies such as power grid energy storage systems and electric vehicles.
The report also notes a series of elections in 2024, including in the U.S., EU and India, with results having significant implications on policy as governments balance often competing objectives such as decarbonization, energy security and energy affordability, which will likely impact areas including clean technology, as well as “the path of the low-carbon transition more broadly.”
Additionally, the new report highlights the potential for physical damage from extreme weather events – noting the World Meteorological Organization’s recording of 2023 as the hottest year on record – to drive an increase in interest in climate resilience as a new investment theme. Examples of opportunity areas noted in the report included “early monitoring systems for floods, air conditioning to cope with heatwaves or retrofitting buildings to better withstand extreme weather.”
In the report, BlackRock said:
“Bottom line: We think falling battery prices could boost the EV and energy storage industries this year. Much depends on the direction of global transition policy after key elections as we weigh transition-related investment opportunities and risks. As physical climate risks mount, we believe climate resilience could come to the fore as an investment theme.”
Click here to access the BlackRock Investment Institute report.
Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.
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