Blackstone, the world’s largest private equity firm, disclosed that states’ scrutiny over potential “boycotts” of the fossil fuel industry could affect fundraising and revenues, according to the 2022 annual report it filed with the U.S. Securities and Exchange Commission last week. Divergent views on ESG increase the risk that action or inaction “will be perceived negatively by at least some stakeholders and adversely impact our reputation and business,” Blackstone said.
BlackRock chief executive Larry Fink has said Republican state treasurers last year pulled about $4 billion from the asset manager over ESG concerns. BlackRock and its rival State Street were berated for their ESG investing policies at a Texas legislative hearing in December. In annual reports, both companies also added new language this year about risks stemming from opposition to ESG.
'Woke' is when you care about the environment. Oh horror 🤣. Those state pensions are playing a dangerous game with those funds.
What an absolute farce of a headline.
It's taken over 8 years of losses for business people to wake up about the the wokery Seriously f*cked up
The backlash to 'woke capital' is the risk? No, giant investment firms that prioritize niche liberal pet projects over generating shareholders' profits are the risk.
Especially investing in businesses that produce windmills & solar panels. These businesses can't survive without govt help, ever.
The photo used for this headline is embarrassing and has made me not want to read the article. It makes it appear biased and misleading. Not at all journalistic.
Sweet.
Post Media - take
Go woke go broke
When telsa doesn’t get high ratings under the current ESG format you know there are going to be serious issues. elonmusk
Nice way of denigrating the idea that capital should have ethics - and we know that this is more advocacy for the unethical oil industry in alberta.
People who invest have had 3 to learn and figure the investment schemes out. Ain’t life a bitch. Slow the exercise wheel and even the rat has time to figure things out. Going forward the frantic pressured rush rush rush buy buy now wheel has stopped folks going to be smarter.
It was bullshit in the first place.