BlackRock Chief Government Larry Fink stated Thursday that the agency was unfairly focused by candidates within the fourth Republican presidential debate, calling it a “unhappy commentary on the state of American politics.”
BlackRock, the world’s largest asset supervisor, has confronted a backlash from state pension plans in Republican-led Florida, Louisiana and Missouri for the agency’s ESG insurance policies, which filter potential investments primarily based on environmental, social, and governance screens. General, the agency misplaced about $4 billion in 2022 in belongings beneath administration on account of its ESG stance whereas pulling in $230 billion in inflows.
Florida Governor Ron DeSantis criticized the agency in Wednesday’s debate for utilizing its “financial energy” to instill a “left wing agenda.”
“The one agenda now we have is delivering for our purchasers,” Fink wrote in a LinkedIn publish. “One candidate final night time claimed that BlackRock was in some way deterring American power corporations from drilling for oil. The fact: BlackRock purchasers have greater than $170 billion invested in American power corporations and simply final month, we introduced a three way partnership with considered one of America’s largest power corporations to assist develop new know-how.”
Shares of BlackRock closed up 0.3% at $745.44