Thread by @DanielaGabor

In mind-numbing non COVID events, European Commission is handing the keys to the green finance regulatory kingdom to Blackrock!
and paying EUR 500k for it. h/t @Frank_vanlerven
responsible-investor.com/articles/black…

Blackrock will develop tools and mechanisms for integrating ESG into banking regulation.
ESG is a private taxonomy for sustainable finance.

for the past two years, European Commission has developed its own public taxonomy, with the purpose of ending greenwashing that happens via private ESG.

this is not only a waste of European taxpayer resources, a mockery of the European Green Deal , but also a mockery of the anti-greenwashing discourse of the Commission.
And I say mockery because Blackrock is the greatest greenwasher of all.

https://twitter.com/DanielaGabor/status/1217486478735040515?s=20

and if you ask, in disbelief, like @jeuasommenulle if this is for real, yes it is
ted.europa.eu/udl?uri=TED:NO…

in the financial capitalism 2010-2020 movie, Blackrock is the super villain: it has its fingers everywhere.
Goldamn's vampire squid metaphor pales in comparison.
In Mexico, Blackrock manages half of the entire pension system, and rules infrastructure

https://twitter.com/DanielaGabor/status/1179619024914792449?s=20

Blackrock literally has the US Federal Reserve as buyer of last resort for its own ETFs

https://twitter.com/DanielaGabor/status/1242724311011594241?s=20

only 4 months ago, its own peers called Blackrock a gigantic greenwashing machine
citywire.co.uk/wealth-manager…

only 8 months ago, Blackrock was using its shareholder power to block corporate climate accountability

https://twitter.com/DanielaGabor/status/1168201622117396481?s=20

and if you buy this 'but Blackrock wrote a letter promising to change', well go ahead, it had written same letter for the previous three years.
There are so many conflicts of interest, difficult to believe @vonderleyen - hey @Greenpeace

also hi @europeangreens @GreensEFA @TerryReintke - what are you going to do about Blackrock and Commission?

https://twitter.com/mvanderstichele/status/1247973600050757632?s=20

oh wait, I know the answer to all these questions: Blackrock!

https://twitter.com/EU_Finance/status/1247830064600940544?s=20

in my @guardian article on #EuropeanGreenDeal, I warned exactly against Blackrock-led greenwashing.
Little did I know events would prove me right
theguardian.com/commentisfree/…

hear hear. argument that the largest global asset manager with incredible lobbying muscle is 'just writing a study for us' - as @EU_Finance claims - is simply not credible

https://twitter.com/sven_giegold/status/1248552192128233472?s=20