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Critics: Blackrock's new investment fund is greenwashing

According to critics, Blackrock is trying to sell a new investment fund as sustainable even though it contains carbon-intensive companies.
Photo: BRENDAN MCDERMID/REUTERS / X90143
Photo: BRENDAN MCDERMID/REUTERS / X90143
by STEFAN NYGAARD HANSEN

Global asset manager Blackrock has been criticized by many commentators in Danish financial daily Børsen over its new exchange-traded fund, US Carbon Transition Readiness. The fund cannot be purchased in Denmark, but the USD 1.25bn invested on its first day on the market means it enjoyed the biggest ETF launch ever, reports the Financial Times.

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