Fund Solutions

New Zealand, BlackRock Join Forces on Climate Infrastructure

The world’s largest asset manager BlackRock is targeting NZ$2 billion for a climate infrastructure strategy that will be delivered to support New Zealand’s net zero goals. BlackRock’s country-led strategy will provide institutional investors with a platform through which they can invest in the country’s transition to a low-carbon economy, generating investment opportunities in target sectors, such as wind, solar, batteries, electricity storage, and natural capital projects. New Zealand currently has an 83% renewable energy penetration rate, but the transition to a 100% renewable energy mix will require investment up to NZ$42 billion (US$26 billion) in renewable power and distribution. Andrew Landman, Head of New Zealand and Australia, BlackRock, said: “BlackRock’s role as a fiduciary is to help clients reach their investment goals. In New Zealand, there is a clear preference to invest in a range of energy transition opportunities while facilitating delivery of the long-term private capital required to create a more secure, efficient, and greener energy future for all New Zealanders.” 

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