A leading BlackRock opponent feels the company and CEO Larry Fink are 'poster children for ESG,' which has made the high-powered executive a target of conservatives.
on ESG investing criteria and argued companies are violating their fiduciary responsibilities to their shareholders by sacrificing the main financial objectives of the company for a"woke agenda."
"They keep trying to talk out of both sides of their mouth and now that their term ESG – that they were a fan of until we started launching our ad campaigns – has become so negative that they’re now changing the terminology. It’s a rose by another name. It’s conscientious capitalism," Hild said."These are all just new names for the same thing with pushing a far-left, progressive agenda with other people’s investment dollars.
"One of the most egregious things that BlackRock has done is threaten to, and in some cases follow through on, changing boards of director positions at major American companies because they didn't follow their far-left progressive agenda," Hild continued."They helped elect three radical environmentalists on the board of Exxon whose stated goal was to get that company’s focus out of cheap, affordable energy for American consumers.
Hild believes ESG is similar to critical race theory, in that some elements of the polarizing issue are branded CRT, but many others have CRT-associated ideas that aren’t labeled as such. He’s not sure that BlackRock ditching the ESG moniker will actually force the company to make changes to the way it pushes"a far-left, progressive agenda," but promised Consumers' Research will continue to monitor BlackRock’s actions.
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