BlackRock (BLK:US) is set to invest $550 million in Stratos, the world's largest direct air capture (DAC) project developed by Occidental Petroleum (OXY:US). Located in west Texas, Stratos aims to remove carbon emissions from the atmosphere using DAC technology, contributing to global decarbonization efforts.

DAC technology removes CO₂ emissions from the air, offering versatile applications like capturing and storing atmospheric CO2 and its reuse in various industries. The International Energy Agency recognizes its potential in achieving global net-zero goals.

Occidental Petroleum, a significant U.S. oil company is working towards reducing its carbon footprint with backing from Warren Buffett's Berkshire Hathaway (BRK/B:US), its largest shareholder. BlackRock's investment comes through its fourth global infrastructure fund indicating growing investor confidence in climate-related projects.

Stratos targets an annual capture of up to 500,000 tonnes of carbon and is 30% complete with commercial operations scheduled for 2025. The U.S. Department of Energy's $1.2 billion grant supports DAC developments, aligning with the Biden administration's push for economic decarbonization.

BlackRock's substantial investment in the Stratos project highlights the industry's shift toward sustainability and the global commitment to combat climate change effectively.

In the first half of 2023, several lawmakers engaged in the sale of their BLK stock holdings. In July and August, Rep. Ro Khanna strategically acquired stocks, contrasting with Sen. Dan Sullivan's disposition of shares in August. Moving forward into September and October, Sen. Markwayne Mullin made a notable purchase in BLK shares.

In 2023, the sole lawmaker who executed transactions involving OXY stock was Sen. Tommy Tuberville. He acquired OXY shares in May within the price range of $15,000 to $50,000 and subsequently sold OXY stock in both April and May.