Author Topic: BLACKROCK BACKS OFF: BlackRock has warned it will vote against most shareholder green activism  (Read 380 times)

0 Members and 1 Guest are viewing this topic.

Offline IsailedawayfromFR

  • Hero Member
  • *****
  • Posts: 18,756
Quote
BlackRock has warned it will vote against most shareholder green activism this year for being too extreme, in a significant u-turn by the world’s biggest money manager.

The company said it was concerned about proposals to stop financing fossil fuel companies, including forcing them to decommission assets and setting absolute targets for reducing emissions in their supply chains.
***
In a stewardship report, the asset manager said: “We do not consider [the proposals] to be consistent with our clients’ long-term financial interests.”

No kidding!

Its update represents a significant volte face for the asset manager which has been at the forefront of Wall Street’s push to encourage companies to shun fossil fuels and transition to greener alternatives.

Others who are not blinded by ideology will offer better results for their clients:

The decision to distance itself from “prescriptive” climate change policies comes as institutional investors face criticism for allegedly pushing political agendas.

On Thursday, Vivek Ramaswamy, a US health and technology entrepreneur, launched an “anti-woke” investment fund that will urge companies to focus on making money rather than championing political causes.

https://www.powerlineblog.com/archives/2022/05/blackrock-backs-off.php

Make no mistake, this is not about Blackrock being a respectable company.

This is about the bleeding taking place by not investing in the greatest value-generation industry existing right now.
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington

Offline Smokin Joe

  • Hero Member
  • *****
  • Posts: 57,359
  • I was a "conspiracy theorist". Now I'm just right.
Make no mistake, this is not about Blackrock being a respectable company.

This is about the bleeding taking place by not investing in the greatest value-generation industry existing right now.
Economic collapse will likely foul up their profits.
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline catfish1957

  • FJB!!!!
  • Moderator
  • *****
  • Posts: 32,037
  • Gender: Male
Make no mistake, this is not about Blackrock being a respectable company.

This is about the bleeding taking place by not investing in the greatest value-generation industry existing right now.

I think there must be open warfare going on at Blackrock between Fink and his associates.  Fink is never going to let a green or woke cause go un rewarded.
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline IsailedawayfromFR

  • Hero Member
  • *****
  • Posts: 18,756
ESG is the Perfect Storm Against Capitalism to Destroy Our Way of Life
Every Woke, Liberal, Progressive, and straight out Socialist will tell you that Environmental, Social and Governance (ESG) investing is an investment strategy you can use to put your money to work with companies that strive to make the world a better place. What it really is, is an anti-energy, anti-development, and anti-America strategy that helps to destroy our ability to produce low-cost, reliable energy.

Alex Epstein at industrialprogress.net says that “ESG poses as a moral and financially savvy movement that is an immoral and financially ruinous movement. It prevents poor countries from developing and threatens America’s security.

Few knew what the initials “ESG” meant 5 years ago, but it is well-known today among corporate investors. One hundred and eighty CEOs recently signed a Business Roundtable statement on business purpose. They have agreed to move away from trying to improve business and the investment outcome for its stockholders, focusing instead on goals involving political objectives.

Whoever gave banks this sort of control over the world to collude to reshape economies and energy infrastructure? The answer is the notorious World Economic Forum whose rich members meet annually in Davos, Switzerland, to discuss taking over the world under the leadership of Klaus Schwab, author of the now-infamous Great Reset, which describes how these jet setters hope to accomplish this.

Depriving citizens of the more than 6,000 products that were non-existent before 1900, made from the oil derivatives manufactured from crude oil, is immoral and evil as extreme shortages will result in billions of fatalities from diseases, malnutrition, and weather-related deaths.

The pretense of liberal investment advisors that the market has long focused on social and environmental issues for companies that they invest in ⏤ is simply not true.
https://www.americaoutloud.com/esg-is-the-perfect-storm-against-capitalism-to-destroy-our-way-of-life/
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington