Despite a barrage of Republican attacks, lackluster returns and diminishing client interest in the US, BlackRock Inc. has been quietly expanding its dominance in ESG investing.
The world’s largest asset manager has posted net ESG inflows every quarter for the past two years, a period that marks one of the toughest ever in the two-decade history of environmental, social and governance investing. In all, BlackRock’s ESG-related assets under management swelled 53% from the beginning of 2022 through the end of last year, according to data provided by Morningstar Direct. Over the same period, the wider ESG fund market grew only about 8%. The money manager now oversees roughly $320 billion of ESG funds, more than any other investment firm in Europe, the US or globally.
BlackRock’s ESG Fund Business Is Soaring Despite Attacks by the GOP – BNN Bloomberg
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