The European Commission’s ESG commitments for banks and BlackRock: It’s about more than a conflict of interest

 BlackRock Zentrale in Midtown Manhattan, New York City.  | Bild (Ausschnitt): © Americasroof [CC BY-SA 3.0] - Wikipedia

In early 2020, Larry Fink, CEO of BlackRock, the world’s largest and arguably most renowned asset management company, wrote in a letter to CEOs that “every government, company, and shareholder must confront climate change”. Not because it is morally important to do so, but because it is financially savvy. Indeed, “our [BlackRock’s] investment conviction is that sustainability- and climate-integrated portfolios can provide better risk-adjusted returns to investors”.   ... →