“Run for office,' Patronis said. 'Start a non-profit. Donate to the causes you care about. Using our cash, however, to fund BlackRock’s social-engineering project isn’t something Florida ever signed up for.”
Republican leaders in Florida and across the country have targeted ESG ratings, which can involve considering a wide range of issues in investments, such as companies’ climate-change vulnerabilities; carbon emissions; racial inequality; product safety; supply-chain labor standards; privacy and data security; and executive compensation.
“I think it’s undemocratic of major asset managers to use their power to influence societal outcomes,” Patronis said. “If Larry , or his friends on Wall Street, want to change the world — run for office. Start a non-profit. Donate to the causes you care about. Using our cash, however, to fund BlackRock’s social-engineering project isn’t something Florida ever signed up for.”Fink is a leading proponent of ESG metrics.
As part of an October quarterly report, Fink said the New York-based BlackRock is built “to meet our clients’ needs across all market environments.”
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