“It is my belief that the next 1,000 unicorns — companies that have a market valuation over a billion dollars — won’t be a search engine, won’t be a media company, they’ll be businesses developing green hydrogen, green agriculture, green steel and green cement,” Larry Fink, CEO and Chairman of BlackRock, told the Middle East Green Initiative Summit in Riyadh, Saudi Arabia.
Climate change is a business opportunity, Fink said, because addressing it will require that virtually every segment of industry will have to be reinvented.
“Getting to net zero carbon emissions by 2050 is going to require a revolution in the production of everything we produce, and a revolution in everything we consume. The process of creating fuel, food and construction materials, with all the needs that we have as humanity, it all has to be reinvented,” Fink said. “And that’s going to require a large amount of investment, a large amount of ingenuity and a large amount of innovation.”
That innovation will include myriad web applications. ESG is a business opportunity.