BlackRock recently walked back its public commitments to ESG in various ways. And for good reason. BlackRock has lost billions of dollars from state pension funds and others pulling out of ESG funds while it has taken a brand beating for its support of ESG.
The company has been the subject of ad campaigns, investigations, and numerous inquiries from state attorneys general, treasurers, and legislatures. Congress examined ESG practices in July, and BlackRock often found itself squarely in the line of questioning from lawmakers.
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