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In 2023, BlackRock founder Larry Fink turned from an outspoken champion of the 'environmental, social, and governance' (ESG) framework to a critic.
Findings
Additional insights we found via The Wall Street Journal
For many years, Fink championed the ESG efforts of the companies BlackRock invested in, famously touting that he believed "climate risk is investing risk."
By 2023, Fink stopped hounding on ESG, particularly the environmental aspect, and said that both the far left and far right had weaponized the term, making it significantly less meaningful.
While BlackRock is one of the largest investors in energy companies worldwide, Fink has said that he believes energy, particularly oil and gas, will have to be part of the solution to climate change.
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