Growth and Transition Strategy Update

...and we expect the transition to spur significant capital investment 2015-2021 2023 - 2050 $2.3 Trillion invested per year on average in energy supply and demand, increasing to...1 $3.5-4 Trillion invested per year on average through 2050, across high and low carbon² Note: For footnoted information, refer to slide 111. BlackRock 102

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