Staff Reports
In a stunning victory for conservatives, BlackRock CEO Larry Fink has renounced ESG – environmental, social, and governance policies – and vowed to no longer use the term “ESG” due to effective pushback from conservative groups. This is a major embarrassment for BlackRock, which has been attempting to force the adoption of these radical policies on their shareholders, rather than relying on the democratic process.
BlackRock CEO Larry Fink Says He's 'Ashamed' of ESG https://t.co/Mhg5b1OWmM
— Townhall.com (@townhallcom) June 26, 2023
Fink himself has admitted to feeling ashamed of being part of the ESG conversation, and the loss of $2 billion in assets due to Florida Governor Ron DeSantis’s decision to pull them out has been a major blow. But despite these setbacks, Fink has vowed to continue using BlackRock’s power to promote leftist aims under a different banner, one that hasn’t yet been associated with going “woke” at the expense of shareholders.
🚨🚨🚨
After we exposed the ESG scam for what it truly is, one of the main architects of the practice, @BlackRock CEO Larry Fink, said he’s “ashamed” to be a part of the debate.
His scheme has been exposed and he knows it:https://t.co/r37Z50M7hj
— Will Hild (@WillHild) June 26, 2023
🚨🚨🚨BREAKING: @BlackRock CEO #LarryFink announces rebranding of #ESG now underway to “conscientious capitalism.” Fiduciary duty still rules supreme when it comes to investment decisions. 1/2
Larry Fink "ashamed" to be part of ESG political debate https://t.co/4Br4cgoSJj
— State Financial Officers Foundation (@SFOF_States) June 26, 2023
It’s clear that ESG has been politically weaponized by the far-left and far-right, and Fink’s decision to distance himself from this divisive term is a victory for common sense. But don’t be fooled, as Fink’s use of the new label “conscientious capitalism” is just a thinly-veiled attempt to push his leftist agenda on investors under a more palatable name.
Conservatives should remain vigilant and continue to push back against attempts to force radical policies on shareholders through the backdoor. Larry Fink and BlackRock may have lost this battle, but the war is far from over.
