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Episode 14: Black Rocking the Green Deal

EU Watchdog Radio

English - November 27, 2020 12:00 - 32 minutes - 22.4 MB
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‘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.