Tiny activist investor Bluebell Capital Partners is taking aim at BlackRock, the world's largest asset manager, blasting its focus on environmental, social and corporate governance (ESG) issues and seeking to oust longtime CEO Larry Fink who advises captains of industry and world leaders.
Larry Fink, Chairman and CEO of BlackRock, arrives at the DealBook Summit in New York City, U.S., November 30, 2022. REUTERS/David 'Dee' Delgadothe world's largest asset manager, blasting its focus on environmental, social and corporate governance issues and seeking to oust longtime CEO Larry Fink who advises captains of industry and world leaders.
The pair admonished BlackRock for having failed to support any of its recent campaigns while using its role as the world's most powerful asset manager to "influence the public debate on climate and energy policies." "Fink clearly has political ambitions because it is not his job as chief executive of BlackRock to dictate energy policy,” Bivona told Reuters in an interview. Fink's name has often been floated as a possible cabinet member in Washington and the firm's executives are often consulted by policy makers.Fink pens an annual letter to CEOs in January and has pushed corporations to see beyond profits.
BlackRock is its most high profile target yet, at a time when more investors are paying attention to ESG factors and smaller investors are finding a bigger voice in the age of new corporate voting rules.
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