Investments in the energy transition are falling way short of what is needed for its success. The fresh warning comes from BlackRock, which said annual investments in the shift away from hydrocarbons need to almost double from their current record levels. But it’s getting less likely this would ever happen.
He was not the only one, either. Investors are flocking to energy stocks seeking to protect themselves against inflation and take advantage of higher oil prices, Reuters reported recently, citing a portfolio manager from Wealth Enhancement Group as saying, “If inflation is going to pop up again ... the hedge is to have some commodities exposure.” The situation is very much different for transition companies.
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