Friday, August 12, 2022

State AGs Take Aim at $10 Trillion Investment Giant Over Woke Investments

A coalition of 19 Republican attorneys general says BlackRock CEO Larry Fink prioritizes left-wing political initiatives over shareholder returns and is jeopardizing the retirement of middle class workers with pensions.

Fink’s embrace of environmental, social, and governance investment policies, known as ESG, potentially runs afoul of several laws, the AGs charge in a letter sent to Fink. Instead of managing state pension funds and finding the best returns on investment, the AGs write, BlackRock uses "citizens’ assets to pressure companies to comply with international agreements" such as various climate initiatives.


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