The head of BlackRock Inc., one of several firms blacklisted by Oklahoma over the firm’s discrimination against oil and gas, is reported to be urging the chairman of the SEC to “tone down” the pending emissions disclosure rules.
Fox News Business says CEO Larry Fink made the suggestion to SEC Chairman Gary Gensler as the agency considers final rules for public companies to disclose direct and indirect carbon emissions attributable to their operations.
Under Fink’s leadership, BlackRock was a leading company in the Environmental, Social and Corporate Governance investing movement, publicly stating it would not offer funding for oil and gas firms. As a result, the Oklahoma legislature adopted a new state law in which firms that discriminate against the fossil fuel industry would not be allowed to receive investments from State pensions and retirement systems.
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