SAO PAULO (Reuters) – Blackrock (NYSE) Inc’s CEO Larry Fink announced Wednesday that Blackrock, the world’s largest asset manager, foresees the creation of three infrastructure funds focusing exclusively on renewable energy. This is in response to concerns over energy supply after the Ukraine war.

He stated that while this conflict may lead to an increase in production of traditional energy resources in the short term, he believes recent events will speed up the transition towards more sustainable energy in many areas of the globe over the longer term.