As the political backlash increased with the anti-ESG movement, BlackRock CEO Larry Fink appeared to have taken a different approach in his annual letter to investors regarding environmental, social, and governance investing.
the leftist ESG investing policies as the practice of sustainable investing, Fink did not use the acronym ESG once in his letter. In fact, BlackRock’s CEO pushed the idea that the asset manager wants it to be the investor’s own choice concerning sustainable investing and the energy transition:
Our job is to think through and model different scenarios to understand implications for our clients’ portfolios. My letters to CEOs are written with a single goal: to ensure companies are going to generate durable, long-term investment returns for our clients.Fink also alleged that the asset managers’ clients “want our help to understand the likely future paths of carbon emissions” and “how government policy will impact these paths, and what that means in terms of investment risks and opportunities.”
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