06.27.2023 0

Blackrock: It’s Not ESG, It’s ‘Decarbonization…Governance…Or Social Issues…” Rebranding WOKE?

Blackrock’s Larry Fink wants to rebrand ESG as ‘decarbonization… governance … or social issues’. It’s still the same exact thing.

“I’m not going to use the word ESG because it’s been misused by the far left and the far right.” That was Blackrock CEO Larry Fink on June 25 at Aspen Ideas Festival attempting to put some distance between himself and the Environmental, Social and Governance (ESG) investment model that directs investor funds to companies not for profit per se, but to achieve equity: for the climate and social justice for minorities, for women, transgenders, gays and so forth. He also said he was “ashamed” to be a part of the discussion around ESG. Trillions of dollars have flown through funds like Blackrock and Vanguard to restrict carbon energy production to bolster green alternatives, use racial and sexual hiring quotas to achieve race and gender equity and so forth, sparking backlash from consumers, investors and elected leaders who do not embrace what they perceive to be a radical social and political agenda. Instead of Environmental, Social and Governance, or ESG, Fink proposed: “we talk a lot about decarbonization, we talk a lot about governance … or social issues, if that’s something we need to address…” Which is exactly the same thing. Literally the same thing.

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