BlackRock Doesn’t Dialogue on Energy Issues
Their Energy Projections are consistently poor
In the piece below by Claire Feldman, she points out the BlackRock has violated its fiduciary duty: It has a poor energy projection record: It mocks the company’s claim that it wishes to “dialogue” on energy issues.
19 State attorneys general assert that BlackRocks CEO Larry Fink’s record demonstrate that he is outspoken leader to the unofficial k‘retire fossil fuels’ group.
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“Those "additional concerns" should also be concerning to BlackRock. On the question of “neutrality” on energy, the AGs put paid to the company's claim, noting its many actions to wipe out the fossil fuel industry. “Rather than being a spectator betting on the game, BlackRock appears to have put on a quarterback jersey and actively taken the field. It mocks the company’s claim that it wishes to “dialogue” on energy issues, and accuses Blackrock of violating its fiduciary duty as the investment manager for state pension funds, as well as the company's poor energy projection record and its priorities. “Given these facts, it strains credulity to believe that a sole focus on financial returns would lead an asset manager to manage all assets for the achievement of net zero by 2050 and make climate issues the number one portfolio company engagement factor.”
https://wattsupwiththat.com/2022/08/22/another-bad-day-at-black-rock/