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BlackRock faces elevated climate risk from $12.5bn infrastructure deal, says think-tank

Global Infrastructure Partners owns stakes in UAE-owned pipelines and controversial fossil fuel projects

'BlackRock has been blowing hot and cold on the energy transition,' says Andréa Hernandez, researcher and analyst at Reclaim Finance
'BlackRock has been blowing hot and cold on the energy transition,' says Andréa Hernandez, researcher and analyst at Reclaim Finance Photo: Getty Images

BlackRock’s mammoth deal to acquire Global Infrastructure Partners may see the world’s largest asset manager getting more than it bargained for as it gains exposure to a string of controversial fossil fuel projects, a climate think-tank has warned. 

The $10tn New York-headquartered asset manager sent shockwaves through the industry when it announced on 12 January that it would buy the private markets firm for $12.5bn

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