Larry Fink, CEO of BlackRock, the world's largest asset manager, has recently defended the company's energy investment strategies, highlighting a shift from a strict adherence to ESG (Environmental, Social, and Governance) principles towards what he terms 'energy pragmatism.' This change comes after a period of staunch advocacy for ESG investing, which focuses on climate change and social justice politics. Amid heightened political tensions, Fink announced last year that while the term ESG would be dropped due to its politicization by both the far left and the far right, the strategy's core principles would remain intact. This move, detailed in his annual letter which also mentioned Antora Energy and was reported by @benwerschkul, has sparked discussions on balancing traditional energy sources with renewables. The shift, coming days after a Texas dust-up, has been met with mixed reactions, underscoring the complex debate surrounding ESG investing and the future of energy.
BlackRock’s Larry Fink ditches ESG for ‘energy pragmatism’ https://t.co/THdCz4DEeY https://t.co/BvZ4bx9wYx
Caught in the crosshairs of the toxic ESG debate, BlackRock CEO Larry Fink urged for "energy pragmatism" in his annual letter released this week. And he's 100% right. The only practical path forward is to BALANCE oil + gas/renewables/other energy sources. This is great to see! https://t.co/0CuJiBM8Gv
Amid heightened political tensions, Mr. Fink said last year he was ditching the ESG term — but not its strategy — because it’s “been misused by the far left and the far right.” https://t.co/vlRB3YdGan
The rhetoric from the chief executive of the world’s largest asset manager marked a significant departure from his years of staunch advocacy for ESG, or environmental, social and corporate governance investing that prioritizes climate change and social justice politics.…
The climate change-focused investment strategy known as ESG suffered another blow Tuesday at the hands of someone who was once its biggest steward on Wall Street: Larry Fink. https://t.co/rV9KBINbFu
👀 I spy @antoraenergy in Larry Fink's @BlackRock annual letter. https://t.co/v8U9a2wR8A
Larry Fink defends BlackRock's energy bets days after Texas dust-up https://t.co/ntocXH1oTH by @benwerschkul