Tag: ESG

Commentary: BlackRock CEO Larry Fink Warns Environmental, Social and Governance Investors Ukraine War Will ‘Slow the World’s Progress Toward Net Zero’ in Near Term

Michigan Star Staff
Larry Fink

Blackrock CEO Larry Fink warned Environmental, Social and Governance (ESG) investors in his $10 trillion hedge fund’s annual shareholder letter that Russia’s invasion of Ukraine — and the resulting Western sanctions on Russia — had disrupted globalization and interdependent supply chains and would result in “increasing oil and gas supply” in the U.S. and “coal consumption may increase over the next year” in Europe and Asia to offset the drop in Russian exports.

As a result, Fink projected, “This will inevitably slow the world’s progress toward net zero in the near term,” referring to ESG goals like net zero global carbon emissions by 2050 that would encounter challenges, particularly as American consumers pay much higher prices with consumer inflation up 7.9 percent and producer inflation up 10 percent the past twelve months.

Those price pressures will mean more oil and gas production immediately, Fink said.

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Commentary: ESG Investing Is Politics by Other Means

RealClearWire

Before Joe Biden’s election, environmental, social and governance (ESG) investing was sweeping all before it. Wall Street was coming to the planet’s rescue and saving capitalism at the same time. It was a self-serving myth. As I show in my new report Capitalism, Socialism and ESG published today, doing well by doing good is no more than Wall Street sales patter. But since the election, financial regulators have been falling over themselves playing catchup.

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