BlackRock argues ESG advocacy could create reputational risk (2024)
| Environmental, social, and corporate governance |
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| • What is ESG? • Enacted ESG legislation • Arguments for and against ESG • Opposition to ESG • Federal ESG rules • Economy and Society: Ballotpedia's weekly ESG newsletter |
Supporters of ESG have generally argued that corporations should implement ESG (especially social) policies to mitigate reputational risks to their brands. Now, BlackRock—the largest asset manager in the world and a leading provider of ESG funds—last week indicated in documents filed with the SEC that ESG advocacy itself could create problems related to reputational risk:
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In the risk disclosures section of its annual report filed with the Securities and Exchange Commission Friday, BlackRock added a section noting it "faces increasing focus from regulators, officials, clients and other stakeholders regarding ESG matters." … The world's largest asset manager became a political target for conservatives in recent years after it offered and promoted funds that use ESG criteria. Chief Executive Larry Fink has said he no longer uses the term in part because it is too vague. BlackRock has previously warned of reputational risks tied to ESG.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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