BlackRock’s ESG push faces strong resistance.
BlackRock’s push for environmental, social, and governance (ESG) in corporate boardrooms is facing opposition nationwide, causing its efforts to falter.
Supporters of ESG have been urging corporations to prioritize climate change-related issues and progressive ideology in their investment decisions.
However, in a surprising turn of events, the world’s largest asset management fund voted against the majority of ESG proposals for the upcoming proxy season, as revealed in its 2023 Investment Stewardship report published on Aug. 23.
Interestingly, the term ESG is only mentioned in the footnotes of the latest stewardship report, a significant contrast to the previous year when it was referenced multiple times.
The ESG movement, championed by financial institutions like BlackRock, Vanguard, and State Street, advocates for conscious shareholders to support green energy and left-wing social priorities in the financial sector and major corporations.
Fink Blinks After Anti-ESG Backlash
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