Distaste for mining projects among investors is threatening net zero targets, the world’s biggest asset manager has warned.
Blackrock said a “complacent attitude” towards the sector has led to money managers underestimating the importance of base metals in delivering clean energy.
It said environmental apprehension around mining has led to a “staggering” investment gap, which could lead to a “scarcity” of critical raw materials.
Blackrock fund managers Evy Hambro and Olivia Markham said the mining and metals industry will play a critical role in achieving net zero, as they called for more investment to help the sector go green.
Blackrock recently launched a copper ETF and a critical minerals investment fund. Clearly, not sold all that well and they’re trying to drum up trade.