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European climate policy
In Europe , BlackRock has exerted a major influence on climate policy , ostensibly aligning itself with sustainable development through its environmental , social and governance ( ESG ) initiatives . However , BlackRock ’ s actions reveal a more complex picture :
Flashmag ! Issue 156 January 2025
The company remains heavily invested in fossil fuel companies while advising the European Commission on sustainable finance policies . Activists have accused BlackRock of greenwashing , i . e . using its ESG commitments as a smokescreen to maintain its dominant position in the clean energy and fossil fuel markets . How BlackRock raises the elite Beyond its influence on policy , BlackRock plays an essential role in creating and empowering a class of elites aligned with its worldview . The company does this through direct financial support , media influence and executive rotation .
Larry Fink ’ s role as a power broker
BlackRock CEO Larry Fink has positioned himself as a key player in global economic policy . Known for his annual letters to CEOs , Mr . Fink dictates corporate behavior on issues ranging from climate change to diversity . These letters often become de facto policy for companies wishing to align themselves with BlackRock ’ s priorities , given the company ’ s significant stake in their shares . Mr . Fink ’ s ability to influence corporate and public agendas has made him one of the most powerful figures in the world of finance , often influencing debates on capitalism and governance .
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