“I’m not going to use the word ‘ESG’ because it’s been misused by the far left and the far right,” Larry Fink, chairman and chief executive of BlackRock, declared a year ago. The far left, Fink complained, wanted BlackRock to use other people’s money to decarbonize the economy. As for what Fink presumably regards as the “far right,” BlackRock had lost $4 billion in mandates as a result of the political debate on environmental, social, and governance (ESG) investing, which he called “90% misinformation.”
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