BlackRock’s billionaire CEO Larry Fink – who has weathered a barrage of accusations over “woke capitalism” run amok at his $10 trillion firm – is making a fresh push to repair relationshi…
GOP lawmakers have threatened to investigate whether or not the group’s ties to various climate groups and ESG objectives conflict with its fiduciary responsibilities. In response, BlackRock has been scrambling to meet with representatives from Senate Banking, House Judiciary and House Financial Services, sources said.
“BlackRock knows they have a DC Republican problem,” one GOP Hill source told The Post. “They should be worried — investigations lead to potential legislation and regulation and bad news cycles.” Huge finance firms such as BlackRock have added environmental policies to their overall investment strategies; while eco-activists have applauded, many investors have taken their money elsewhere.A Blackrock rep emphasized the company is focused on “educating” people and pointed to a recently created web page, “BlackRock setting the record straight.”
“As a fiduciary, we have an obligation to act in the best interest of our clients and to be solely focused on their investment objectives,” according to the While ex-BlackRock exec Brian Deese stepped down earlier this month as the White House’s director of the National Economic Council, Fink still has a number of former employees in the Biden administration.
Those include Deputy Treasury Secretary Wally Adeyemo; Eric van Nostrand, senior adviser on economic issues tied to Russia and Ukraine; and Mike Pyle, Vice President Kamala Harris’ chief economic adviser, according to reports.
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