Quote:
Originally Posted by XutvJet
 Sure, ESG is not perfect (it's still a relatively new thing) but the way some of the Right presents it couldn't more wrong, misguided, and not factual. I know, it's hard to believe politicians and certain media present things this way.
BtW, BlackRock’s corporate ESG statement:
https://www.blackrock.com/lu/interme...sg-integration |
I read it, but did you?
"Because we believe that climate risk is investment risk, BlackRock’s active portfolio managers seek to understand
how they can use environmental, social, and governance (ESG) data as a lens to identify new risks and opportunities, and to build more resilient and better performing portfolios. We call this practice “ESG integration”, or simply, “integration”."
‘The public is being lied to’: Elon Musk says major money funds like BlackRock, Fidelity ‘inflicted’ ESG on American investors — as states like Texas move to ban these policies
“We don’t basically do some sort of like bizarre, like communism rebranded thing, which is like a lot of what ESG is and to be inflicted upon corporate America without the knowledge of the actual shareholders, which is what's going on,” he said during a 2023 discussion with GOP presidential candidate Vivek Ramaswamy on X Spaces.
“The public is being lied to … And I'm naming names here: BlackRock, Fidelity … I know you guys and you need to tell your customers that you're not making the optimal decisions for shareholder value because that's what's going on,” he said.
According to projections by PwC, global asset managers are expected to increase their ESG-related assets under management to $33.9 trillion by 2026.
(lot of money for something that doesn't exist?
)
“The big firms that you hear, BlackRock, you know, Vanguard, all them, they’re like, they’re setting themselves up for the biggest class-action lawsuit in the history of class-action lawsuits by an order of magnitude, because
they're breaking the deal with their customers and they're not maximizing shareholder value,” he told Ramaswamy.
https://moneywise.com/investing/inve...esg-principles
OOPS
The end of ESG? BlackRock admits adverse effects in SEC filing
BlackRock’s penchant for ESG is already coming back to bite it in the behind. In its annual filing with the Securities and Exchange Commission, the financial behemoth openly admitted its ESG activism poses a serious risk to its business.
In the company’s words, the House of Cards could tumble “if BlackRock is not able to successfully manage ESG-related expectations.”
I was almost excited to see BlackRock openly admit its obsession with ESG is a problem — until
I realized the company seems to be more worried about its image than the well-being of its clients.
The idea that one can simply cherry-pick investments that align with a single political agenda without sacrificing any financial opportunity flies in the face of decades, even centuries, of investing wisdom.
It’s clear BlackRock is trying to hide and change its language when discussing ESG. It’s ironic that BlackRock fears the exact tactics — public backlash, reputation damage, and losing clients — the ESG mob uses to coerce businesses into compliance with its political agenda.
https://www.washingtontimes.com/news...ffects-in-sec/
I guess some folks just don't get it.
I dumped BlackRock two years ago after reading Larry Fink's year end statement. Best decision I have made in a while.