BlackRock CEO Larry Fink said the narrative around ESG investing has become ugly and is creating “huge polarization.” “I’m taking this very seriously,” Mr. Fink said in an interview with Bloomberg TV at the World Economic Forum in Davos. “We are trying to address the misconceptions. It’s hard because it’s not business any more, they’re…
Category: blackrock
The Top 15 Anticipated ESG-Related Considerations That Will Influence Strategy in 2023
The predictions of Dan Romito, Pickering Energy Partners include increased disclosure from public companies and their private company connections, more ESG-focused shareholder proposals, more focus on water issues along the lines of climate change issues, advancement of offsets, Scope 3 disclosures, the US leaning toward Europe’s sustainable finance disclosures, greater focus on climate metrics in credit…
Activist investor Bluebell targets BlackRock for inadequate ESG — Reuters
Tiny activist investor Bluebell Capital Partners is taking aim at BlackRock (BLK.N) and wants to replace longtime CEO Larry Fink, criticizing the world’s largest asset manager as being inconsistent in its focus on environmental, social and corporate governance (ESG) issues. Bluebell, with roughly $250 million in assets, said BlackRock, which invests over $8 trillion, and…
BlackRock Is Getting Used to Being in the ESG Crossfire – Bloomberg
As firms led by BlackRock face increasing criticism from America’s right wing, they’re also hearing claims of greenwashing from progressives. New York City Comptroller Brad Lander wrote in September to BlackRock Chief Executive Officer Larry Fink, saying the Big Apple was “ re-assessing” its business with the firm because it isn’t doing enough to push corporations to do…
US Republicans pull $1bn from BlackRock over ESG investing concerns | Financial Times
Would someone like to tell these Republicans that Hermes has been a pioneer in shareholder engagement? I hope the pension beneficiaries challenge these decisions in court as there is no way the politicians have data to back up their claims. BlackRock has lost more than $1bn in asset management business in US Republican states upset…
Louisiana To Pull Out Of BlackRock, Citing Its ESG Investing
It’s nice of Louisiana treasurer John Schroder to make it absolutely clear that the decision to stop doing business with BlackRock is based not on what is best for pension plan beneficiaries, as required by his obligation as a fiduciary, but on his insistence that the financial firm subsidize local businesses, thus admitting exactly what…
WSJ Prints Another Informercial for Anti-ESG Strive Fund
We have no idea why the Wall Street Journal continues to give op-ed space to Peter Thiel-funded anti-ESG crank Vivek Ramaswamy so that he can promote his Strive Fund. We note that the Journal discloses Strive’s investments in the companies he writes about but does not make clear that he is on the other side…
BlackRock Responds to ESG Letter from Republican AGs
BlackRock sent a 10-page letter to the Republican AGs about ESG. As predicted, it is diplomatic, speaking in terms of “welcoming” the opportunity to “clarify” its positions. But it in no way backs down. The full letter is below, and here are some of the highlights. [footnotes omitted and emphasis added] Your letter makes several…
Larry Fink: Here’s Your Answer to the Despicable Letter from the GOP Attorneys General
From VEA Vice Chair Nell Minow: I’m sure BlackRock CEO Larry Fink’s response to the obnoxious, accusatory, misleading, letter he received from 19 Republican state attorneys general will be measured, diplomatic, and thoroughly lawyered over. He will hope to mollify them to continue to be able to do business with the government pension funds. That is only…
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