LONDON, June 13 (Reuters) - BlackRock (BLK.N) on Tuesday launched the "Brown to Green Materials Fund" targeting undervalued carbon-intensive companies that produce the raw materials and products driving the energy transition. Those companies that produce the materials and have a quality plan to decarbonise - and their suppliers - should re-rate as their margins get a boost and sustainability risks decrease, it said. "This broad materials universe is trading at such (a) large discount relative to the broader market and growth opportunity," based on how they have historically been viewed, he told Reuters. "Once people understand that these businesses are becoming increasingly green in their production processes, it is likely that the discount that is applied to them is going to reduce." Editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

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Persons: Brown, BlackRock, Evy Hambro, BlackRock's, David Evans Organizations: Tuesday, Green Materials, Reuters, Thomson Locations: BlackRock