Raw: [
BlackRock CEO Larry Fink snapped back at claims about the investment giant made by candidates […]]
BlackRock CEO Fink Pushes Back Against “Ideological Agenda” Claims at Republican Debate – ESG Today
ESG Investing, sustainable finance & business sustainability news
ESG investing news, analysis, research and information
Top Stories ESG News
Companies
Government
Investors
Regulators
Sustainable Finance
ESG Solutions ESG Tools, Services
Companies Companies
Investors Investors
ESG Disclosure ESG Reporting
Analysis
Regulators
Reports, Studies
Newsfeed
New! ESG Whitepapers
New! ESG Events
About About us
Our Team
Advertise With Us
Investors
BlackRock CEO Fink Pushes Back Against “Ideological Agenda” Claims at Republican Debate
Mark Segal
December 8, 2023
BlackRock CEO Larry Fink snapped back at claims about the investment giant made by candidates at the Republican debate this week, including accusations that the firm is pushing an ideological agenda on the U.S. and that it holds back energy companies from producing oil.
In a LinkedIn post following the debate, Fink wrote “now I know why they call this the political silly season,” adding that some of the candidates “earned a few more Pinocchios” for peddling misinformation about BlackRock.
The investment giant, and Fink himself, was mentioned several times throughout the debate, most often by Vivek Ramaswamy, who criticized fellow candidate Nikki Haley for accepting support from Fink, whom he called “the king of the woke industrial complex, the ESG movement.” Later in the debate, Ramaswamy claimed that American energy companies including Exxon and Chevron “can’t drill” for oil because of the influence of BlackRock as a shareholder.
BlackRock has come under significant pressure over the past several months at the center of a vocal anti-ESG movement by Republican politicians in the U.S., who have accused the firm of following a social agenda, or of “boycotting” and working to harm energy companies. In an interview earlier this year, Fink addressed the claim that BlackRock boycotts energy companies, pointing out that the firm is actually one of the world’s largest hydrocarbon investors, and that the firm is actively working with major energy companies on their pathway to decarbonization.
In his post following the debate, Fink reiterated these comments in his pushback against Ramaswamy’s claims, noting that “BlackRock clients have more than $170 billion invested in American energy companies and just last month, we announced a joint venture with one of America’s largest energy companies to help develop new technology.”
Florida governor Ron DeSantis also cited BlackRock in an effort to bolster his anti-ESG stance, claiming that the firm is part of a group of “woke corporations” that “want to use economic power to impose a left-wing agenda on this country.”
DeSantis has been among the most vocal anti-ESG advocates, barring fund managers for state pension funds last year from incorporating ESG factors in the investment process, and recently pulling $2 billion from BlackRock over its use of ESG factors. The Florida governor said that he would continue these efforts on a national level as President, adding:
“The next President of the United States needs to be able to go to that office on day one and end ESG.”
Responding to DeSantis’ claims that BlackRock was following an ideological agenda, Fink said that “the only agenda we have is delivering for our clients.”
Fink added:
“BlackRock was mentioned by some candidates in last night’s debate more than inflation or the national debt. That’s a sad commentary on the state of American politics.”
Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.
Related Posts
Investors /
Amundi Launches Agriculture-Focused Impact Investing Strategy
Investors /
Bloomberg Launches Green Bond-Tilted Versions of its Flagship Fixed Income Indices
Investors /
Mirova Launches $350 Million Sustainable Land Fund
‹ EU Lawmakers Agree on New Rules to Decarbonize Buildings
ESG Today Newsletter – Subscribe
Subscribe to the ESG Today NewsletterJoin our mailing list for the latest breaking ESG investment news!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsR & DProcurement & ContractingSupply Chain & DistributionSustainabilityStrategyTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Sustainable Finance
Bloomberg Launches Green Bond-Tilted Versions of its Flagship Fixed Income Indices
FAB Sets $135 Billion Sustainable Finance Goal
Mirova Launches $350 Million Sustainable Land Fund
EU Regulators Propose New Social, Climate Targets Disclosures for Financial Products
Government
EU Lawmakers Agree on New Rules to Decarbonize Buildings
Biden Administration Announces Rules to Cut Methane Emissions for Oil and Gas Sector
EU Lawmakers Reach Deal on Sustainable Product Rules
UAE Launches $30 Billion Climate Fund
Categories
Select Category
Business Wire
ESG News
Analysis
Climate
Companies
Energy Transition
Environment
ESG Reporting
ESG Tools, Services
Executive Moves
Governance
Government
Guest Posts
Investors
M&A
New funds & products
Platforms & Markets
Private Equity
Professional bodies
Regulators
Reports, Studies
Social
Social & Governance
Sustainable Finance
Welcome
Back to Top
Home
About us
Disclosure, cookies & privacy policy
© ESG Today 2023
Don’t miss the top ESG stories!Join the ESG Today daily newsletter and get all the top ESG stories, like this one.
Subscribe now below!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsProcurement & ContractingR & DStrategySupply Chain & DistributionSustainabilityTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Never miss the latest breaking ESG investment news. Get ESG Today’s newsletter today!
Subscribe Now
c
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkPrivacy policy