My wild guess: this author has a huge axe to grind with BlackRock, because he wrote a climate change denialist book. BlackRock has not read it and joined him in climate change denialism. He published a long-winded article earlier this month complaining about BlackRock's climate change stance[1].
I think the general mistake he's making is to believe that BR is taking their climate change stance for frivolous, partisan, or PR reasons and not because they've taken a hard look at the facts and listened to science.
Fair point and something I didn't think about. However, your comment doesn't address the point of the article which is that China is using it's influence to skirt U.S. Accounting Rules.
Well, the headline itself is trying to imply that China is trying to buy BR, which is totally unsupported by the article. The article's central thesis, however, seems to be this:
> And while marketing Chinese investments that lack the basic auditing safeguards of U.S. companies, BlackRock is threatening to vote against boards that do not apply burdensome environmental reporting standards that have no statutory or regulatory standing — this, amid the deepest economic crisis since the Great Depression. BlackRock’s hypocrisy speaks for itself: punishing American companies that decline to apply entirely voluntary standards while being mute about Chinese companies’ lack of audit oversight and enforcement. There could hardly be a more blatant case of double standards.
BR doesn't have any direct power over China's accounting rules, and I'm sure they'd love it if China's businesses had orthodox accounting standards.
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[ 3.0 ms ] story [ 21.6 ms ] threadI think the general mistake he's making is to believe that BR is taking their climate change stance for frivolous, partisan, or PR reasons and not because they've taken a hard look at the facts and listened to science.
[1] https://thehill.com/opinion/energy-environment/495673-blackr...
https://www.wsj.com/articles/trump-may-push-for-chinese-comp...
> And while marketing Chinese investments that lack the basic auditing safeguards of U.S. companies, BlackRock is threatening to vote against boards that do not apply burdensome environmental reporting standards that have no statutory or regulatory standing — this, amid the deepest economic crisis since the Great Depression. BlackRock’s hypocrisy speaks for itself: punishing American companies that decline to apply entirely voluntary standards while being mute about Chinese companies’ lack of audit oversight and enforcement. There could hardly be a more blatant case of double standards.
BR doesn't have any direct power over China's accounting rules, and I'm sure they'd love it if China's businesses had orthodox accounting standards.