Temasek, BlackRock Partner on Decarbonization Investment Partnership
By Stephen Nakrosis
Temasek and BlackRock Inc. said Monday they would establish a
partnership called Decarbonization Partners.
The partnership "will invest in next-generation private
companies that provide solutions and technologies which accelerate
global efforts to achieve a net zero global economy by 2050."
Larry Fink, chairman and chief executive of BlackRock, said,
"The world cannot meet its net zero ambitions without
transformational innovation." He added, "This partnership will help
define climate solutions as a standalone asset class that is both
essential to our collective mission and a historic investment
opportunity created by the net zero transition."
Dilhan Pillay, CEO of Temasek International, said, "Through
collective efforts with like-minded partners, we will be able to
create sustainable value for all of our stakeholders over the long
term, and investors will have the opportunity to help deliver
innovative solutions at scale to address climate challenges."
The companies said they intend to commit a combined $600 million
in initial capital to invest in multiple funds launched by the
partnership, adding that "Decarbonization Partners has a
fundraising target of $1 billion for its first fund, including
capital from Temasek and BlackRock."
--Write to Stephen Nakrosis at firstname.lastname@example.org
(END) Dow Jones Newswires
April 12, 2021 19:09 ET (23:09 GMT)
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