Monday, November 28, 2022
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The ESG threat goes beyond BlackRock

Larry Finck can’t catch a break. He is president and CEO of black rock, the world’s largest investment manager, with $8.5 trillion in assets under management. In the battle for sustainable investment and the dissemination of environmental, social and governance policies on Wall Street, both sides are targeting him.

Republican state governors and Republican attorneys general, many from oil and gas-producing states, have attacked Fink as the industry’s leading spokesperson for ESG, which they see as an elaborate cover for the movement for change. and a clandestine means of reducing carbon emissions by depriving the energy industry of investment capital. Using a shoot the messenger approach, 19 states have publicly called out BlackRock on the carpet regarding ESG. Texas and West Virginia are already beginning to recapture the company’s state businesses.

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