{"id":1957666,"date":"2023-06-26T19:57:02","date_gmt":"2023-06-26T23:57:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/blackrock-ceo-discusses-esg-controversy-misused-by-the-far-left-and-far-right\/"},"modified":"2023-06-26T19:58:16","modified_gmt":"2023-06-26T23:58:16","slug":"blackrock-ceo-discusses-esg-controversy-misused-by-the-far-left-and-far-right","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/blackrock-ceo-discusses-esg-controversy-misused-by-the-far-left-and-far-right\/","title":{"rendered":"BlackRock CEO addresses ESG controversy: &#8216;Misused by extremes&#8217;"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/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%2Fblackrock-ceo-discusses-esg-controversy-misused-by-the-far-left-and-far-right%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=1957666&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--><div class=\"entry-content\">\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Larry Fink on stage at the 2022 New York Times DealBook on November 30, 2022 in New York City. (Photo by Thos Robinson\/Getty Images for The New York Times)<\/figcaption><\/figure>\n<h2>OAN\u2019s\u00a0<a href=\"https:\/\/www.oann.com\/tag\/brooke-mallory\">Brooke Mallory<\/a><br \/>3:56 PM \u2013 Monday, June 26, 2023<\/h2>\n<p>The debate over ecological, social, and governance (ESG) investment criteria has reportedly made BlackRock CEO Larry Fink feel \u201cashamed,\u201d as he claimed that the term is being \u201cmisused by the far-left and far-right.\u201d<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cI\u2019m ashamed of being part of this conversation,\u201d Fink said, according to Axios.<\/p>\n<\/blockquote>\n<p>Fink revealed to the outlet during a talk at the Aspen Ideas Festival on Sunday that Florida Governor Ron DeSantis\u2019 decision to withdraw $2 billion in assets from Blackrock in 2022 had harmed his business.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cWhen I write these [investment] letters, it was never meant to be a political statement. \u2026 They were written to identify longterm issues to our longterm investors,\u201d Fink asserted on Sunday.<\/p>\n<\/blockquote>\n<p>When questioned about his previous remarks, Fink replied, saying he was not \u201cashamed\u201d of ESG but rather the conversations revolving around it.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cI never said I was ashamed [of ESG],\u201d he said, according to Axios. \u201cI\u2019m not ashamed. I do believe in conscientious capitalism.\u201d<\/p>\n<\/blockquote>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cI\u2019m not going to use the word ESG because it\u2019s been misused by the far-left and the far-right,\u201d he continued. \u201cWe talk a lot about decarbonization, we talk a lot about governance \u2026 or social issues, if that\u2019s something we need to address,\u201d Fink\u2019s response came off as deflective and vague.<\/p>\n<\/blockquote>\n<p>Opponents, notably Republican legislators, have contended that ESG investment criteria violate firms\u2019 fiduciary responsibility to their shareholders by forsaking the company\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/blackrock-ceo-discusses-esg-controversy-misused-by-the-far-left-and-far-right\/\" title=\"BlackRock CEO addresses ESG controversy: 'Misused by extremes'\">fundamental financial objectives<\/a> for a \u201cwoke agenda\u201d and also not doing what shareholders desire.<\/p>\n<p>Fink, one of corporate America\u2019s most vocal proponents of ESG, reacted to critics in a letter to CEOs back in 2022.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>The ESG trend \u201cis not about politics. It is not a social or ideological agenda. It is not \u2018woke,&#8217;\u201d Fink claimed.<\/p>\n<p>\u201cIt is capitalism, driven by mutually beneficial relationships between you and the employees, customers, suppliers, and communities your company relies on to prosper \u2026 Make no mistake, the fair pursuit of profit is still what animates markets, and long-term profitability is the measure by which markets will ultimately determine your company\u2019s success,\u201d He concluded.<\/p>\n<\/blockquote>\n<p>In February, notable GOP leaders on the House Financial Services Committee formed a task group to plan a response to ESG investing guidelines.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cProgressives are trying to do with American businesses what they already did to our public education system\u2014using our institutions to force their far-left ideology on the American people,\u201d Financial Services Committee Chairman Patrick McHenry said in a statement. \u201cTheir latest tool in these efforts is environmental, social, and governance\u202fproposals. This is why I am creating a Republican ESG working group led by Oversight &#038; Investigations Subcommittee Chair Bill Huizenga.\u201d<\/p>\n<\/blockquote>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cThis group will develop a comprehensive approach to ESG that protects the financial interests of everyday investors and ensures our capital markets remain the envy of the world,\u201d he continued. \u201cFinancial Services Committee Republicans as a whole will continue our work to expand capital formation, hold Biden\u2019s rogue regulators accountable, and support American job creators.\u201d<\/p>\n<\/blockquote>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote data-service=\"twitter\" data-category=\"marketing\" data-placeholder-image=\"https:\/\/c3.oann.com\/wp-content\/plugins\/complianz-gdpr\/assets\/images\/placeholders\/twitter-minimal.jpg\" class=\"cmplz-placeholder-element twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BlackRock CEO Larry Fink says the quiet part out-loud about the overall goal of ESG:<\/p>\n<p>&#8220;You have to force behaviors and, at <a href=\"https:\/\/twitter.com\/BlackRock?ref_src=twsrc%5Etfw\">@BlackRock<\/a>, we are forcing behaviors\u2026&#8221;<a href=\"https:\/\/t.co\/kWtDm7ebeS\">https:\/\/t.co\/kWtDm7ebeS<\/a><a href=\"https:\/\/twitter.com\/hashtag\/BlackRockExposed?src=hash&#038;ref_src=twsrc%5Etfw\">#BlackRockExposed<\/a><a href=\"https:\/\/t.co\/GT7QSw6CKP\">pic.twitter.com\/GT7QSw6CKP<\/a><\/p>\n<p>\u2014 Will Hild (@WillHild) <a href=\"https:\/\/twitter.com\/WillHild\/status\/1671277810436939779?ref_src=twsrc%5Etfw\">June 20, 2023<\/a><\/p><\/blockquote>\n<p><script type=\"text\/plain\" data-service=\"twitter\" data-category=\"marketing\" async data-cmplz-src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script> <\/div>\n<\/figure>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote data-service=\"twitter\" data-category=\"marketing\" data-placeholder-image=\"https:\/\/c3.oann.com\/wp-content\/plugins\/complianz-gdpr\/assets\/images\/placeholders\/twitter-minimal.jpg\" class=\"cmplz-placeholder-element twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">All 401k\u2019s are managed by Vanguard\/Blackrock\u2026they press ESG onto companies\u2026there is ZERO choice involved. My investments\u2026my choice.<\/p>\n<p>\u2014 The Investigative Examiners (@TruthorConseq12) <a href=\"https:\/\/twitter.com\/TruthorConseq12\/status\/1670197016776052737?ref_src=twsrc%5Etfw\">June 17, 2023<\/a><\/p><\/blockquote>\n<p><script type=\"text\/plain\" data-service=\"twitter\" data-category=\"marketing\" async data-cmplz-src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script> <\/div>\n<\/figure>\n<p>Stay informed! Receive breaking news blasts directly to your inbox for free. Subscribe here.\u00a0<a href=\"https:\/\/www.oann.com\/alerts\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.oann.com\/alerts<\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Jim Nelles<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Jude Russo<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Greg Price<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Doctor Miriam Grossman recently testified before the House Committee on Energy and Commerce\u2019s Subcommittee on Health and said organizations who have endorsed so called \u201cgender-affirming care\u201d are rife with politics and have pressured dissenting voices<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Jeff Mason and Jarrett Renshaw WASHINGTON (Reuters) \u2013 The White House on Monday divvied up $42 billion among the nation\u2019s 50\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>SYDNEY (Reuters) \u2013 Australia\u2019s banking regulator on Tuesday told insurer Medibank it would have to set aside A$250 million ($167 million) in\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) \u2013 Robinhood Markets said on Monday it was cutting about 7% of its full-time employees, as it struggles with reduced customer\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>JERUSALEM (Reuters) \u2013 A slowdown in Israel\u2019s technology sector has worsened in 2023, exacerbated by political turmoil, and the country may be\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The 2022 New York Times DealBook event featured Larry Fink, BlackRock CEO, in New York City. The debate on ESG investment criteria has affected Fink&#8217;s perspective, as reported by OAN&#8217;s Brooke Mallory on June 26, 2023.<\/p>\n","protected":false},"author":1866,"featured_media":1957667,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1957666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1957666","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\/1866"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1957666"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1957666\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1957667"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1957666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1957666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1957666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}