92 NGOs wrote to European Commission President von der Leyen, and Executive Vice-Presidents Dombrovskis and Timmermans, to urge them to cancel the recently concluded contract with BlackRock Investment Management.
BlackRock was selected to provide key advice to the Commission on the integration of environmental, social and governance risks into EU banking rules and supervision, as well as working to insert environmental, social and governance objectives into banks’ business and investment strategies. We believe that the selection of BlackRock – with major links to fossil fuel companies – sends an extremely harmful message, one that undermines the credibility and reputation of the European Commission’s European Green Deal and sustainable finance policy before it has even begun.