How Virtue Signaling by World’s Largest Asset Manager will Decimate your Retirement

Researchers working inside a unit of BlackRock Inc. estimate that a reform of “public financial institutions” could free up as much as $4 trillion in additional investment to help emerging markets tackle the fallout of climate change.

In a paper published on Tuesday, the BlackRock Investment Institute laid out how it thinks a reform of multilateral development banks (MDBs) such as the World Bank might allow them to make better use of the capital at their disposal. Doing so would play a key role in filling the so-called climate financing gap that emerging markets currently face, BlackRock said.

Nations experiencing the fastest increase in emissions are also those facing the biggest hurdles when it comes to accessing private capital. With that in mind, a key goal of the COP28 talks will be to come up with so-called blended finance models, whereby private investors get incentives to join public institutions in committing capital to climate projects, without the terms becoming too onerous for debtor nations. Bloomberg

But as this guys says:

Blackrock wants $4 trillion from your retirement accounts to build rusting windmills in third world jungles.

Because tens of trillions in taxpayer dollars just aren’t doing it for the weather fairies.

The money would come from a “blended finance” model where subsidies push companies to dump money into “renewables” in poor countries. Given their record, that would mean your 401k money isn’t actually trying to turn a profit, it’s taking one for the climate team.

They don’t care where it gets spent – just so long as it goes through their sticky fingers and they can use the “It’s for the Common Good” excuse so beloved of the elites.