BlackRock, the world's largest asset manager, is facing scrutiny over its ESG funds as the UK watchdog warns that some funds are attempting to mislead investors with the ESG label. The Financial Conduct Authority (FCA) has stated that certain funds are using the ESG label inaccurately, raising concerns about the credibility of ESG investments. This comes after recent criticism of ESG funds by Marc Andreessen, who referred to the concept as a 'zombie idea.' BlackRock's role in popularizing the term ESG in 2019 has also come under scrutiny, with accusations that the company diverted capital away from worthwhile investments. The asset manager's pivot towards crypto has further fueled the debate surrounding ESG investing.
Larry Fink and BlackRock $BLK pioneered the term ESG in 2019 taking hundreds of billions out of worthwhile investments and starving companies we need for capital In June 2023, Fink said he was ashamed for this and pivoted shortly after to crypto... Retweet and bookmark https://t.co/7hDF9PsTuZ
Larry Fink and BlackRock $BLK pioneered the term ESG in 2019 taking hundreds of billions out of worthwhile investments and starving companies we need for capital In June 2023, Fink said he was ashamed for this and pivoted shortly after to crypto... Retweet and bookmark https://t.co/JT9blqSwuP
Entire solar etf $tan down 6% after hours $BLK told me ESG was the best before Flipping this summer from ESG to crypto https://t.co/4f7ZwJgVge
Entire solar etf $tan down 6% after hours $BLK told me ESG was the best before Flipping this summer fro. ESG to crypto https://t.co/UQN5RbO1pB
Entire solar etf $tan down 6% after hours $BLK told me ESG was the best before Flipping this summer https://t.co/JTQZgim4wf
ESG investing is heading into its inevitable end game, says @MerrynSW https://t.co/mVqrIf5c0R via@opinion
UK watchdog says some funds attempting to mislead with ESG label https://t.co/1vMwBgCMlN https://t.co/ItaqgUnupK
UK watchdog says some funds attempting to mislead with ESG label https://t.co/zEWWoFIXaA https://t.co/LJZmHzeRIL
In recent months, massive asset managers like BlackRock and State Street have cut dozens of ESG funds. This week, it was called a "zombie idea" by Marc Andreessen. What's next? https://t.co/nu9Aaok7LL
Has the term ESG become βweaponized?β https://t.co/SgskdCN7Lx https://t.co/n5IOKVMD3Q