The near-term prospects for traditional energy companies remain "attractive", despite potential for a fast transition to electric vehicle penetration, according to BlackRock's Mark Hume.
The £95m BlackRock Energy & Resources Income Trust (BERI) recently changed its investment policy to highlight an enhanced focus on companies contributing to the energy transition. But co-manager Hume said the path to a majority weighting to more ESG-friendly firms would happen over time, because going to 100% sustainable energy straight away would "leave behind some other stuff that looks really pretty interesting". Oil price falls: Who were the winners and losers? BERI told investors in March it would look to increase exposure to stocks benefitting from the transition away from ca...
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