Report: Republicans Blast Blackrock Over ‘Woke’ Climate Investing
Republican officials are up in arms over financial giant BlackRock and accusations that it has been less than honest over the extent that climate change drives its investment decisions.
According to The Daily Wire, a letter sent by 15 GOP attorneys general demanded the company be forthright concerning its involvement in climate organizations. It also wanted BlackRock to reveal how its policies are guided by environmental and social issues.
The company is widely believed to be motivated by social activism over the financial benefit of its investors. It has over $10 trillion in assets.
The push by state AGs was led by Montana’s Austin Knudsen. He addressed the Republican concerns to the outlet.
According to Knudsen, there are “serious concerns about BlackRock’s Environmental, Social and Governance investments, their conflicting statements regarding ESG and the potential conflicts of interest with independent fund directors.”
The AG noted the obligation these firms have to investors but said that BlackRock seems more motivated by a “woke, liberal agenda” than the financial wellbeing of its clients.
Republicans further point to statements made by the company that indicate a belief that ‘woke’ initiatives are beneficial to investors.
These proclamations, the AGs asserted, are undermined by other pronouncements that apparently acknowledge that sustainability issues do not march hand-in-hand with a profitable venture.
BlackRock CEO Larry Fink is no stranger to controversy. In 2017 he made a well-documented comment that the powerful company would “force behaviors” to align with the leftist agenda.
Fink told a New York Times interviewer that the investment firm would push through changes regarding “gender or race.” It would also harm compensation if its diversity, equity and inclusion (DEI) protocols were not met by companies.
He blatantly declared, “Behaviors are gonna have to change and this is one thing we’re asking companies. You have to force behaviors, and at BlackRock we are forcing behaviors.”
The 2017 interview resurfaced recently and quickly went viral. This prompted many prominent Republicans and others concerned with corporate and investor extortion to protest.
Sen. J.D. Vance (R-OH) flatly accused the investment firm of “destroying value” and engaging “in illegal and immoral conduct.”
This week he commented that BlackRock must “be dealt with accordingly.”
