Recently, the European Commission selected BlackRock, one of the most powerful financial companies, which manages over €6 trillion in assets, and known to be a key investor in fossil fuels, to provide paid advice on the integration of social and environmental objectives into European banking regulation. Not a good match.
Given the prominent role expected from private finance in the European Green Deal, we seem to be off to a bad start.
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Kenneth Haar is a member of the Change Finance coalition and researcher at Corporate Europe Observatory.