Coherent Identifier About this item: 20.500.12592/jmzfx4

BlackRock’s Governance Mess - As BlackRock Rushes to Cut Climate Risk,

18 May 2021

Summary

Simply put: there is a profound governance breakdown at That BlackRock’s most powerful and longest-serving the heart of BlackRock’s board of directors that robs the independent board member has such extensive ties to the board of conflict-free oversight of the company’s many fossil fuel industry should raise alarm for shareholders commitments to investors and regulators. [...] bank and the world’s fossil fuel industry should raise alarm for shareholders top financier of the fossil fuel industry.7 Raymond was and stakeholders who have pushed the firm to exert its the former CEO of ExxonMobil, with a well-documented profound influence, as one of the world’s top investors, to record of climate denialism.8 He had been on the bank’s tackle our global climate crisis. [...] Some investors will worry about his • Oversight of information provided to the board, independence, given that the two men have worked side including working with the chairman to develop by side in the boardroom for so long,” wrote Stephen and approve meeting agendas, evaluating the Foley in the Financial Times.18 appropriateness and timeliness of information given to the board, and authorizing th. [...] of products and services to the energy industry” that The Bakken region is also the home of the Mandan, has “fostered a culture of unparalleled service to the Hidatsa and Arikara Nation, known as the Three world’s major, national, and independent oil and gas Affiliated Tribes on the Fort Berthold Indian Reservation. [...] (PA DEP) penalized EQT for $4.5 million,which at the time was the largest fine against an oil and gas operator “Murry has helped lead the development of the in the state, for EQT’s release of fracking fluids into Appalachian region, including Marcellus Shale, to waterways.63 The fine was embroiled in a legal battle where it is one of the key areas of supply for our nation’s for years.64 EQT challe.

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