Jul 2, 2023

Big Business Realizes That ESG Has Backfired

Larry Finks's statements might reflect a growing anxiety among investors about getting involved in politics.
Big Business Realizes That ESG Has Backfired

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What’s happening: The CEO of BlackRock—the world's largest asset management firm—recently said that he will no longer use the term "ESG” because critics have “weaponized” it. He even said he was "ashamed of being part of this conversation” but later walked back the remark and reaffirmed his commitment to “conscientious capitalism.”

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