Wednesday, 9 March 2022

Give Me Money!

Is anyone seriously surprised? BlackRock is the world's largest asset manager, investing $10tn. Its head honcho recently announced, to a fanfare, that BlackRock would use its investments to pursue climate action policies. It is now revealed that 'private' emails were sent to the heads of oil industries, assuring them they still had an important place in BlackRock portfolios (https://www.theguardian.com/environment/2022/mar/09/blackrock-privately-soothes-oil-industry-fears-over-its-new-green-credentials). The name of the game is (and always has been) making profits. A subtle bit of 'greenwash' might help keep the dollars rolling in? Interestingly, in some cultures, black rock is another name for coal!
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