Posted on 07/28/2024 1:10:46 PM PDT by Twotone
BlackRock began renaming environmental, social and governance (ESG) earlier this year. It’s now calling it “transition investing.”
The company recently updated its climate and decarbonization stewardship guidelines. The document makes no mention of ESG, but it shows in many ways, the world’s largest investment manager with $10 trillion in assets under management is still pursuing many of the same goals.
When the Securities and Exchange Commission (SEC) adopted final rules regarding climate disclosures in March, critics were partially relieved that the most stringent aspects of the proposed rules weren’t included. The rule still faces a number of legal challenges by parties who argue the rules violate the First Amendment, the SEC exceeded its authority, and compliance will drive up costs and hurt consumers.
When it comes to government actions, people normally have recourse to legal process to review their complaints. One of the main criticisms of ESG is that it pushes progressive policies through a process that circumnavigates elected officials and the courts. When investment firms require banks, for example, to meet certain ESG “sustainability goals,” capital in the market gets bound up with leftist political objectives through administrative rulemaking.
(Excerpt) Read more at justthenews.com ...
Is there a HQ for Black Rock? Coordinates of the place and times of max occupation might be nice also. With coordinates, one can enter them into the B-52 or B2’s computer, and we can all witness a transition to a much better future and reduction of living human excrement.
BlackStone and BlackRock (they are related) are no friend of unWoke America.
They use their enormous proxy voting power to force public companies to enact the progressive’s political agenda.
“However, “for every Texas, there’s a CalPERS,” Jones said, referring to the California Public Retirement System fund, which has nearly $500 billion in assets under management. That organization attempted last month to oust the Exxon board over a lawsuit the company filed against activists groups.
BlackRock has been one of the most vocal proponents of ESG and a prime target of its critics. The company’s updated climate stewardship guidelines reflect its new “transition investing” branding. The guidelines target funds with combined assets of $150 billion for more scrutiny to ensure they are aligned with BlackRock’s strict climate goals.
It requires companies to disclose their decarbonization strategy to demonstrate it can achieve net-zero emissions by 2050. This includes not only the Scope 1 and 2 emissions targets, which were part of the SEC’s final climate disclosure rule, but also Scope 3 emissions, which were part of the SEC’s stringent proposed rules. The Scope 3 requirements weren’t in the final rules.”
Maybe it should be renamed to Blue Rock, and then no one will have clue what it’s up to.
One man controlling 10 Trillion in assets is ridiculous.
Trump should be more careful. Being a buddy of Fink could cost a lot of votes.
The company should be broken up.
Reminder: this is the same Blackrock that wants to run a new stock exchange in Texas.
This has to be far more sinister than global warming and trannies in girls bathrooms.
I am convinced that Black Rock and its head, Rat Fink, are thoroughly EVIL.
p
Does anyone realize that if we seized BlackRock’s assets, we could payoff about 1/3 of our national debt….. 🧐🧐🧐
Their name is racist. It should be African American Rock.
BlackRock and other huge investment companies are being used by their managements to force leftwing social engineering goals on public companies. ESG and DEI for example.
They accomplish this by voting the shares of the stocks that they manage. In some cases these are huge blocks of stock held by retirement accounts like CalPers.
This could all be ended if your shares in a mutual fund were treated similar to shares in a brokerage account
I can roll fresh horse turds in powdered sugar & call them “DONUT HOLES”——
BUT THEY ARE NOT
Transition investing? Sounds pro-gender affirming (mis)care.
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