BlackRock Admits Its Bottom Line Could Be Hurt By ESG Investing | Eastern North Carolina Now

    Publisher's Note: This post appears here courtesy of the The Daily Wire. The author of this post is Leif Le Mahieu.

    Financial asset manager BlackRock said in its annual report that environmental, social, and governance policies could hurt its bottom line after Republican state officials cut ties with the company over its ties to China and climate activism.

    In its annual Form 10-K SEC filing put out last week, BlackRock said that it was facing ESG-related risk factors that might cause it to lose revenue and damage its earnings. The financial giant, which has over $10 trillion in assets, has faced scrutiny from Republican officials who say the company misleads its customers about leftist policies.

    "If BlackRock is not able to successfully manage ESG-related expectations across varied stakeholder interests, it may adversely affect BlackRock's reputation, ability to attract and retain clients, employees, shareholders and business partners or result in litigation, legal or governmental action, which may cause its AUM, revenue and earnings to decline," the company wrote in its filing.

    The company said that this was due to having "clients who have a variety of goals and preferences, including those who want to increase their exposure to the low-carbon transition and those who choose not to invest in products or strategies with sustainable investment objectives."

    BlackRock said that there was risk because some of its clients wanted it to become more involved in promoting ESG investing, while others have cut off business because of its policies toward coal and natural gas.

    "Some US states and state officials have adopted or proposed legislation or otherwise have taken official positions restricting or prohibiting state government entities from doing certain business with entities identified by the state as 'boycotting' or 'discriminating' against particular industries or considering ESG factors in their investment processes and proxy voting," the filing said. "Other states and localities may adopt similar legislation or other ESG-related laws and positions that adversely impact BlackRock's business."

    The filing was cheered on by conservatives who said that it was only the beginning of pushback on ESG initiatives.

    "The hustlers & radicals pushing ESG on American investors & retirees are finally being exposed. But the battle is far from over because they are going to change tactics & try to fly under the radar. Our policy responses will need to evolve," Sen. Marco Rubio (R-FL) said.

    In recent years, a number of states, including Louisiana and West Virginia, have divested from BlackRock. As opposition grew, the company has backtracked on some of its policies, most recently pulling out of Climate Action 100+, a group that pressures companies to "take action on climate change." BlackRock International, a subsidiary, remained in the group.

    Republican officials have also maintained pressure on the company, and 15 Republican attorneys general, led by Montana Attorney General Austin Knudsen, demanded more answers from BlackRock about its participation in climate organizations and what kind of environmental, social, and governance policies it has implemented.

poll#201

Considering what real news is available for all to witness, and in great specificity, should one pursue what is true outside of the channeled realm of the corrupt corporate /legacy media, and: Is Institutionalized Corruption real, and is it a hindrance to sustaining our Constitutional Republic now, and for future generations of American citizens?

  Yes

  No

  Not sure

440 total vote(s)     What's your Opinion?

poll#164

It has been far too many years since the Woke theology interlaced its canons within the fabric of the Indoctrination Realm, so it is nigh time to ask: Does this Representative Republic continue, as a functioning society of a self-governed people, by contending with the unusual, self absorbed dictates of the Woke, and their vast array of Victimhood scenarios?

  Yes, the Religion of Woke must continue; there are so many groups of underprivileged, underserved, a direct result of unrelenting Inequity; they deserve everything.

  No; the Woke fools must be toppled from their self-anointed pedestal; a functioning society of a good Constitutional people cannot withstand this level of "existential" favoritism as it exists now.

  I just observe; with this thoughtful observation: What will happen "when the Vikings are breeching our walls;" how do the Woke react?

845 total vote(s)     What's your Opinion?

poll#178

Considering the current overwhelming obstacles inflicting stress upon America's working class: rampant inflation; energy insecurity; supply chain turmoil; banking failures; foreign policy disasters; government corruption; (DEI) Diversity Equity Inclusion narrative, with WOKE extremes practiced; Climate Change ideology; intractable crime wave in Leftist cities; wide open border by executive design; a permanently discredited Legacy Media; failed or failing education industry, just to name a few of the many: Who should Americans blame?

  Donald J. Trump

  Joseph R. Biden

  Leftist controlled Congress for the last 4 years.

  Bloated, incompetent bureaucracy weaponized and poorly managed

  The electorate, US, for putting these fools in elected office that utterly fail

277 total vote(s)     What's your Opinion?

poll#170

Considering what has happened to our Representative Republic since the corruptive orthodoxy that led to the tolerated abomination - The Russia Hoax - where felonies were perpetrated upon the American People by the creation of the Two Tiered Justice System, in the misnomer of "Social Justice:" Where do you stand on sustaining our constitutionally guaranteed freedoms in a society where injustice is chronically sanctioned by one political orthodoxy?

  I believe in a perfected society by employing a higher governmental authority to train the behavior of the public.

  The United States Constitution does not allow just a few freedoms, it guarantees ALL freedoms promised to Humankind by God.

  Just don't take away my Social Media.

420 total vote(s)     What's your Opinion?