Criticism of the Government's climate deal with a major investment company is being disputed.

BlackRock Capital has launched a $2 billion fund to help New Zealand achieve 100 percent renewable electricity.

ACT condemned the announcement saying it amounts to the Government micro-managing energy supply.

But BusinessDesk journalist Dileepa Fonseka says this isn't the case.

Fonseka says the fund doesn't emphasise one form of energy over another.

He adds they could be referring to the target, but this also isn't set by the fund.

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