BlackRock, one of the world’s largest investors in banks and fossil fuel companies, has been hired by the EU to work on potential new environmental rules for banks.
Campaigners raised concerns about potential conflicts of interest, given BlackRock’s widespread financial interests in sectors that could be directly impacted by new environmental rules.
Katrin Ganswindt, a climate and energy campaigner at Urgewald, a non-profit environmental and human rights organisation, said: “Appointing BlackRock as advisor to the European commission on environmental, social and governance factors seems a bit like letting the fox guard the henhouse. On top of being the world’s largest investor in fossil fuels, they are also among the leading global financiers of the weapons industry."
Read the full article on The Guardian.