Ombudsman’s decision on BlackRock must force European Commission into U-turn on climate & finance rules
25.11.2020
The European Commission did not properly consider conflicts of interest when it granted a contract to BlackRock - a big investor in fossil fuels - to advise on the EU’s new sustainable finance agenda for banks, according to a Decision by the European Ombudsman published today (1). The complainant, the Change Finance coalition, believes the Commission should now drop the contract and start afresh.