2024-03-30 13:08:57
The CEO of Blackrock, in his annual letter, seeks to spare the anti-ESG American politicians, who have taken Blackrock as a scapegoat. Larry Fink assures that the financing of renewables and that of fossil fuels are not incompatible. Every week, Novethic offers you a LinkedIn post that should not be missed.
The annual exercise of the boss of Blackrock proves more and more perilous each year. In his annual letter to his investors, Larry Fink no longer talks regarding ESG, he barely mentions the term “sustainability”, so as not to risk arousing the anger of Republican elected officials who are leading the anti-ESG battle. The asset manager considered too “woke” by part of the American political sphere has seen certain States withdraw their funds under management, blacklist it, or even take it to court. Last year, Larry Fink cautiously said he didn’t want to be the “environmental police.” This year, he is defending a “pragmatic” energy policy, combining renewables and fossil fuels.
“The energy market is not divided as some people believe, with a hard divide between oil and gas producers on one side and clean energy and climate technology companies on the other,” writes “Many companies, like Occidental, do both, which is why Blackrock has never supported divestment from traditional energy companies.” The management company joined forces with the American oil company at the end of 2023 as part of the Stratos project for direct carbon capture in the atmosphere. Occidental Petroleum nevertheless remains an active supporter of the d
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