BlackRock Inc., the world's largest asset manager, updated its decarbonization investment guidelines on July 2, allocating $150 billion for funds screened for energy transition risks and opportunities. Though based in Europe, these guidelines could impact US funds, a company spokesperson confirmed. The new policy expects affected funds to consider shareholder proposals on Scope 3 greenhouse gas emissions and climate-related lobbying activities. This move illustrates the tightrope BlackRock walks to satisfy demands from both European clients focused on decarbonization and Republican-dominated US states with laws against ESG criteria in portfolio decisions. Some states have even banned BlackRock over its climate-risk policies. In October 2023, BlackRock launched a "climate-transition oriented" private debt fund to meet institutional investors' low-carbon goals.