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wwcfm t1_iu0iuqq wrote

Reply to comment by Imagine357 in BlackRock HQ in NYC stormed with pitchforks. by helloworld_141

ESG investing and more broadly finance is in its infancy. Calling it a fiction is objectively incorrect. Greenwashing exists and the industry is aware. The effort is being made to regulate and standardize ESG finance. These things take time. The EU is definitely leading the charge, but it’s growing quickly in the US as well.

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Imagine357 t1_iu0okt6 wrote

I work for a European institution and don’t see institutions like Blackrock being as mature. The non-banks financial services firms / hedge fund like entities generally care more about money than sustainable investing.

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wwcfm t1_iu1bx4s wrote

Did you edit your comment? I originally took it to mean ESG is greenwashing, but now your comment reads more specific to BlackRock. Maybe my recollection is bad.

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Imagine357 t1_iu1d54e wrote

No edits - but to clarify - I’m critical of the greenwashing taking place by many firms, of which I suspect hedge funds and other non-bank market participants of facilitating. Mentally, I put firms like Blackrock in this bucket as they tend to skirt regulation by their nature as a non-bank. Moreover, they are American and not European, and I know how little US regulators are pushing the climate agenda in comparison to the EU.

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mistermarsbars t1_iu4nn0e wrote

And while it takes time to develop the planet is overheating and mass extinction is just around the corner.

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wwcfm t1_iu9fpow wrote

Well why didn’t you start it 50 years ago?

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