{"id":1651901,"date":"2022-09-21T16:52:32","date_gmt":"2022-09-21T20:52:32","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1651901"},"modified":"2022-09-21T16:55:06","modified_gmt":"2022-09-21T20:55:06","slug":"climate-risk-is-investment-risk-bill-clinton-and-blackrock-ceo-larry-fink-make-bold-claims-about-woke-investing","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/climate-risk-is-investment-risk-bill-clinton-and-blackrock-ceo-larry-fink-make-bold-claims-about-woke-investing\/","title":{"rendered":"\u2018Climate Risk Is Investment Risk\u2019: Bill Clinton And BlackRock CEO Larry Fink Make Bold Claims About Woke Investing"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">36<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fclimate-risk-is-investment-risk-bill-clinton-and-blackrock-ceo-larry-fink-make-bold-claims-about-woke-investing%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1651901&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Former President <a href=\"https:\/\/www.dailywire.com\/topic\/bill-clinton\" target=\"_blank\" rel=\"noopener\">Bill Clinton<\/a> and BlackRock CEO Larry Fink discussed the Environmental, Social, and Governance (<a href=\"https:\/\/www.dailywire.com\/topic\/esg\" target=\"_blank\" rel=\"noopener\">ESG<\/a>) movement during a meeting of the Clinton Global Initiative.<\/p>\n<p>A <a href=\"https:\/\/twitter.com\/WillHild\/status\/1572298056720080896\" target=\"_blank\" rel=\"noopener\">panel event<\/a> featuring Clinton and Fink, as well as Unilever CEO Alan Jope and United Nations energy co-chair Damilola Ogunbiyi, highlighted the role of corporations in advancing a pivot to renewable energy through ESG, which has <a href=\"https:\/\/www.dailywire.com\/news\/firm-launches-asset-that-will-tell-corporate-america-to-put-profits-before-politics\" target=\"_blank\" rel=\"noopener\">garnered criticism<\/a> for mingling left-wing politics with generating profits for shareholders.<\/p>\n<p>\u201cI want to thank you for urging people to consider the social impact of their investments, and to try not to just go for a quick rate of return if it\u2019s damaging to society,\u201d Clinton told Fink, whose company manages over $8.5 trillion in assets.<\/p>\n<p>BlackRock has taken \u201cvoting action on climate issues\u201d against 53 of its portfolio companies in 2020 while putting 191 others \u201con watch,\u201d according to its investment stewardship <a href=\"https:\/\/www.blackrock.com\/corporate\/literature\/publication\/our-commitment-to-sustainability-full-report.pdf\" target=\"_blank\" rel=\"noopener\">report<\/a>. Jope remarked that his company adopted sustainability standards in an effort \u201cled\u201d by BlackRock \u2014 which currently maintains a 0.43% share in Unilever \u2014 and called the firm \u201cone of the finest commentators on sustainability and what companies should be doing.\u201d<\/p>\n<p>Beyond arguing that firms should operate on behalf of <a href=\"https:\/\/www.dailywire.com\/news\/esg-the-invisible-fist-of-the-economy\" target=\"_blank\" rel=\"noopener\">stakeholders<\/a> such as employees, suppliers, and community members in addition to their fiduciary responsibility toward shareholders, Clinton mentioned the need to decarbonize the global economy. \u201cHow are we going to get from where we are now to where we need to go?\u201d the former commander-in-chief asked Fink.<\/p>\n<p>\u201cWe\u2019re seeing evidence every day that climate risk is investment risk,\u201d Fink claimed, referring to the movement of crop production as a purported result of heat and droughts. \u201cPeople are waking up to that, and that\u2019s created this tectonic shift.\u201d<\/p>\n<p>The panel discussed slower rates of green energy adoption in the developing world, where residents rely upon fossil fuels at higher levels than citizens of developed nations. Fink called for \u201cchanging the charters\u201d of the International Monetary Fund and the World Bank, both of which exist to stabilize the global economy in the case of financial crises, to accelerate decarbonization at a cost of $1 trillion per year.<\/p>\n<p>\u201cThere\u2019s huge pools of capital, but that capital is just not equipped to be taking the first loss piece,\u201d Fink explained. \u201cIt\u2019s up to the equity owners of these agencies \u2014 basically the G20 \u2014 and they have to have the desire to [be] doing this, instead of just the words.\u201d<\/p>\n<p>Fink also claimed that rising oil and gas prices are making renewable energy products, which are typically more costly to produce, comparatively less expensive. \u201cWe are certainly seeing the green premium shrink quite considerably. So the amount of investment dollars that are going into new decarbonization technology is accelerating.\u201d<\/p>\n<p>Members of the Biden administration have advanced a similar argument. \u201cThe more pain we are all experiencing from the high price of gas, the more benefit there is for those who can access electric vehicle[s],\u201d Transportation Secretary Pete Buttigieg <a href=\"https:\/\/www.dailywire.com\/news\/pete-buttigieg-tells-americans-how-they-can-channel-their-pain-at-the-pump\" target=\"_blank\" rel=\"noopener\">said<\/a> two months ago, while Energy Secretary Jennifer Granholm <a href=\"https:\/\/www.dailywire.com\/news\/energy-secretary-lays-out-the-only-way-to-avoid-high-gas-prices-and-its-not-producing-more-oil\" target=\"_blank\" rel=\"noopener\">contended<\/a> that \u201cas long as our nation remains overly reliant on oil and fossil fuels, we will feel these price shocks again.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former President Bill Clinton and BlackRock CEO Larry Fink discussed the Environmental, Social, and Governance (ESG) movement during a meeting of the Clinton Global Initiative. A panel event featuring Clinton and Fink, as well as Unilever CEO Alan Jope and United Nations energy co-chair Damilola Ogunbiyi, highlighted the role of corporations in advancing a pivot &#8230;<\/p>\n","protected":false},"author":1,"featured_media":1651905,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1651901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1651901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1651901"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1651901\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1651905"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1651901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1651901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1651901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}