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BlackRock

Climate warning

BlackRock Abandons ESG, Appoints Top Oil Executive to Board

What's going on with BlackRock? Their CEO has recently distanced himself from ESG, and now they're appointing top oil executives to their board of directors. What's going on with BlackRock? Their CEO has recently distanced himself from ESG, and now they're appointing top oil executives to their board of directors. BlackRock, the world's largest asset manager (with over 9 trillion USD under management), has recently appointed Amin Nasser, the CEO of Saudi Aramco, the world's largest oil company, as an independent director. In my opinion, this is very worrisome. A top oil executive has joined the board of the world's largest asset manager. It is not surprising that BlackRock does not support climate policies when they vote. They are obviously on the wrong side of history and now they don’t even hide it anymore! . Sources: Board nomination oil executive; https://www.reuters.com/business/blackrock-names-aramco-boss-board-2023-07-17/ No more ESG: https://www.reuters.com/business/environment/blackrocks-fink-says-hes-stopped-using-weaponised-term-esg-2023-06-26/ Voting against climate: https://app.wedonthavetime.org/posts/7e66e603-9440-45a4-a8b4-fed6142eb66d?utm_source=url-copy&utm_medium=wdht-rn-app-share&utm_campaign=Rentzhog

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  • Catarina Rolfsdotter-Jansson

    50 w

    Very alarming given their size and impact.

    • Patrick Kiash

      51 w

      I read all the articles,and it sounds like they don't have a still ground, it's like they are having a double hypocritical speak at the same time. Sad though.

      3
      • Markus Lutteman

        51 w

        This is a very worrysome turn in the wrong direction.

        6
        • We Don't Have Time

          51 w

          Dear Ingmar Rentzhog Your climate warning has received over 50 agrees! We have reached out to BlackRock by email and requested a response. I will keep you updated on any progress! To reach more people and increase the chance of a response, click the Share button above to share the review on your social accounts. For every new member that joins We Don't Have Time from your network, we will plant a tree and attribute it to you! /Adam, We Don't Have Time

          2
          • Thomas Tienso

            51 w

            Last year they were climate heroes. Now this. I think this is an act of beeing totally market/money driven. Last year they saw a medium/long term business risk if they didnt made a climate statement. Now it seems like they are seeing a huge short term profit in fossil fuels - there can still be big money to make without suffering too much. And since they are totally money driven, they don’t want to miss this out. It is up to us, as world citizens to judge them and it is up to us , as consumers to make sure that our money dont end up in their funds. Don’t these people have children and grandchildren and some honorable friends that stops them from this awful egoistic behavior? Or am I judging them wrongly?

            9
            • Ingmar Rentzhog

              51 w

              @thomas_tienso I think BlackRock become a big threat to big oil so they used their influence and power to grab another influential board position at the most powerful investor in the world. If I was working for big oil I would have done the same. So it is a powerplay. We can make money on green or oil. It is a choice.

              1
              • Thomas Tienso

                51 w

                @Rentzhog Understand your comment after have read the articles you attached and get another picture now.. Believe there is “still hope” for Flink. (Sorry Flink)

                9
              • Ingmar Rentzhog

                51 w

                BlackRock's financial power is staggering! They manage over 9 trillion USD. To put that into perspective, it could be compared to the total amount of cash in the world 2023, which is approximately 40 trillion USD.

                13
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