{"id":423181,"date":"2026-01-25T18:37:39","date_gmt":"2026-01-25T17:37:39","guid":{"rendered":"https:\/\/climatescience.press\/?p=423181"},"modified":"2026-01-25T18:37:42","modified_gmt":"2026-01-25T17:37:42","slug":"big-banker-larry-fink-abandons-renewables-for-ai","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=423181","title":{"rendered":"Big Banker Larry Fink abandons renewables for AI"},"content":{"rendered":"\n
\"A
Glowing Neon Bank Building Outline, Abstract Background. Finance, Technology Concept.<\/figcaption><\/figure>\n\n\n\n

<\/p>\n\n\n\n

From CFACT<\/a><\/p>\n\n\n\n

By Joanne Nova<\/a><\/p>\n\n\n\n

\"A<\/figure>\n\n\n\n

The Biggest Banker in the world has flipped<\/h4>\n\n\n\n

Way back in his 2021, annual CEO letter, Larry Fink, CEO of BlackRock, wrote: \u201cNo issue ranks higher than climate change.\u201d <\/strong>It will reshape global capital flows,<\/em> he said, and declared, \u201c\u2026anyone can see the impact of climate change in the natural disasters in California or Florida.\u201d<\/em><\/p>\n\n\n\n

Now though, never mind about global extinctions and flash floods. Fink just spoke at the Davos ski club for billionaires and declared that we need \u201ctrillions of dollars\u201d of investment for AI. Data centres, he said, are rapidly expanding \u2014 one technology company he spoke to said that \u201cits data centres currently use about 5 gigawatts<\/strong>, but by 2030 it expects to need 30 gigawatts<\/strong>.\u201d<\/em><\/p>\n\n\n\n

But like a true banker, he doesn\u2019t see a backflip, he sees only investment opportunities \u2014 the world is short of power he says. (He doesn\u2019t say that this is in large part because BlackRock leaned on companies<\/a> and countries<\/a> all over the world to abandon fossil fuels.) Fink helped create<\/em> the energy shortage that he now calls an investment opportunity. BlackRock is the largest asset manager in the world, controlling $10 trillion dollars in assets, or five times Australia\u2019s GDP. When that much money talks, everyone listens.<\/p>\n\n\n\n

Now Larry Fink throws wind and solar under the bus.<\/h4>\n\n\n\n

He\u2019s matter of fact, with a straight face, almost like he never pushed intermittent generators:<\/p>\n\n\n\n

Fink: \u201cAt the same time, this represents a huge investment opportunity. The world is going to be short of power. And to supply these data centres, you cannot rely solely on intermittent sources like wind and solar. You need dispatchable power, because these data centres cannot simply turn on and off.\u201d<\/strong><\/p>\n\n\n\n

Larry Fink slides the bomb in after 45 mins 30 seconds:<\/p>\n\n\n\n

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