A 2020 Wall Street Journal editorial was titled “Larry Fink’s Political Purgatory: The BlackRock CEO can’t seem to buy progressive absolution.” The Journal’s editors wrote that even as Fink had “promised to sell coal investments,” that offer didn’t spare BlackRock from multi-city protests by “climate ultras” meant to coincide with the firm’s annual meeting for shareholders. A 2019 report from the Fox Business Channel stated Fink had “ruffled feathers inside his company, as well as among some clients for embracing a number of progressive political causes and advocating what has been described as “corporate socialism” – a management concept that implores CEOs to run their companies in a way that doesn’t just benefit shareholders, but also “the communities in which they operate.”” One critic inside BlackRock told Fox Business that Fink had a fixation on “identity politics and virtue signaling that a CEO of a public company shouldn’t be engaged in.” Similarly, a corporate governance expert from the University of Delaware judged that BlackRock’s political agenda was “fundamentally not the role of a public company,” and that Fink’s behavior was “unfair to investors who may not agree with his politics.” 3 4 5įink’s commitment to left-leaning climate policy has also been criticized from the left. 2įink has made repeated public pronouncements regarding his intention to inject his left-of-center climate policy goals and an Environmental, Social, & Governance (ESG) ideology into BlackRock’s investment and management strategies. 1 Fink is known for left-leaning politics, was a supporter of Hillary Clinton’s presidency in 2016 and has been discussed several times as a possible Democratic administration Secretary of the U.S. Larry Fink is the co-founder, CEO, and Board Chairman of BlackRock, the world’s largest money management firm, where he has worked since 1988.
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