Podcast • 27 Nov 2020
Black rocking the Green DealBack to overview
‘Black rocking the European Green Deal’ is the title of this fourteenth episode, in which CEO researcher Kenneth Haar and Jana Leutner researcher at Change Finance, discuss the Blackrock scandal. Together they published a report called “The BlackRock Model”, in which they uncover the scale of the blunder of the European Commission by granting a contract to BlackRock to give advice on ‘sustainable finance’.
On the 25th of November it became crystal clear that the European Commission ignored massive conflicts of interest when it hired the powerful company called BlackRock, the world’s biggest investment fund to give paid advice on how to make the banking sector more sustainable. On that day the European Ombudsman published a thorough decision on this case, after a complaint that was filed by CEO and the Change Finance coalition, joined by some MEPs.
The European Ombudsman stated that The European Commission did not properly consider conflicts of interest when it granted the contract to BlackRock - being the world’s largest asset manager with $7.8 trillion in assets and being a big investor in fossil fuels and also in companies that contribute big time to deforestation. The Change Finance coalition, believes the Commission should drop the contract and start afresh.
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Both CEO and Counter Balance raise awareness on the importance of good governance in the European Union, by researching issues like lobbying of large and powerful industries, corporate capture of decision making, corruption, fraud, human rights violations in areas like agro-business, biotech & chemical companies, the financial sector & public investment banks, trade, energy & climate, scientific research and much more…
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