02:54 PM EDT, 05/01/2024 (MT Newswires) -- (Updates with additional details in the third paragraph and onwards)

New York City Comptroller Brad Lander urged BlackRock ( BLK ) shareholders Wednesday in a letter to vote against Saudi Aramco Chief Executive Amin Nasser's nomination as a member of the company's board.

The vote will take place on May 15 at BlackRock's ( BLK ) annual meeting.

Nasser's potential conflicts of interest may compromise the ability to offer impartial oversight, especially regarding BlackRock's ( BLK ) decarbonization strategy, according to the letter.

Nasser is CEO of a company that is allegedly implicated in a major climate-related breach of international human rights law and this poses an undue reputational risk for BlackRock ( BLK ), its directors and shareholders, Lander added.

The letter noted that Nasser's involvement in significant related-party transactions between Aramco and BlackRock ( BLK ), coupled with the potential for future collaborations, undermines the ability to be independent director.

Neither BlackRock ( BLK ) nor Aramco immediately responded to MT Newswires' requests for comment.

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