The European Commission must cancel the contract selecting investment giant BlackRock to integrate ESG criteria

A coalition of 92 organisations argues that BlackRock's role in developing ESG criteria for EU banking rules is compromised by its massive investments in fossil fuels and its history of lobbying against such regulations.

• BlackRock is identified as the world's largest investment manager with over US$ 6,000 billion in assets under management, including more than USD 87.3 billion in fossil fuel shares and US$ 17.6 billion in coal developers bonds and shares.
• The contract for BlackRock to integrate ESG criteria into EU banking rules is viewed as a high risk for conflicts of interest because the firm invests in both fossil fuels and the banks that must comply with these regulations, and has previously lobbied against such rules.
• Signatories argue that the study conducted by BlackRock will likely be biased, compromising the European sustainable finance strategy, and that the firm may use its influence to benefit its broader business after helping build the regulation.

APA

admin (2020). The European Commission must cancel the contract selecting investment giant BlackRock to integrate ESG criteria. Reclaim Finance. https://reclaimfinance.org/site/en/2020/04/29/the-european-commission-must-cancel-the-contract-selecting-investment-giant-blackrock-to-integrate-esg-criteria/

Chicago

admin. The European Commission must cancel the contract selecting investment giant BlackRock to integrate ESG criteria. Reclaim Finance, 2020. https://reclaimfinance.org/site/en/2020/04/29/the-european-commission-must-cancel-the-contract-selecting-investment-giant-blackrock-to-integrate-esg-criteria/.

Wikipedia

{{cite press release |last1=admin |title=The European Commission must cancel the contract selecting investment giant BlackRock to integrate ESG criteria |publisher=Reclaim Finance |date=29 April 2020 |url=https://reclaimfinance.org/site/en/2020/04/29/the-european-commission-must-cancel-the-contract-selecting-investment-giant-blackrock-to-integrate-esg-criteria/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2020european, author = {admin}, title = {{The European Commission must cancel the contract selecting investment giant BlackRock to integrate ESG criteria}}, publisher = {Reclaim Finance}, year = {2020}, month = apr, url = {https://reclaimfinance.org/site/en/2020/04/29/the-european-commission-must-cancel-the-contract-selecting-investment-giant-blackrock-to-integrate-esg-criteria/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }