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A New York City pension fund has thrown shade at BlackRock, urging its shareholders to give a thumbs-down to the appointment of Amin Nasser, the bigwig from Saudi Aramco, as an independent director. Their gripe? They’re waving red flags about potential conflicts of interest swirling around BlackRock’s eco-friendly makeover and raising human rights eyebrows.

The City Comptroller, Brad Lander, minced no words in a securities filing, urging shareholders to veto Nasser’s board bid at BlackRock’s upcoming annual showdown on May 15. Lander argued that Nasser’s ties could cloud his judgment, especially when it comes to overseeing BlackRock’s green agenda. With billions at stake, including a hefty chunk from New York City’s pension pot, the stakes are high. Neither Aramco nor BlackRock have chimed in just yet, leaving this spat to simmer.

BlackRock, known for its hefty board, has a lineup of 16 folks vying for seats, with Nasser’s candidacy adding a dash of controversy to the mix. While proxy big shots ISS and Glass Lewis give a thumbs-up to BlackRock’s board lineup, they’re throwing some shade at CEO Larry Fink’s pay packet over process and performance concerns. As the May showdown looms, it seems the drama in the boardroom is heating up, leaving investors to wonder: will BlackRock’s annual meeting be a blockbuster or a bust?