BlackRock CEO Larry Fink published his annual letter to investors recently, but his silence on three issues may speak louder than anything he said therein.
First, Fink stayed true to his promise to avoid using the term “ESG,” which stands for the use of environmental, social, and governance factors in corporate decision-making. By my count, Fink had used “ESG” four times in his 2021 letter but did not use it all in this year’s letter. Why does this matter? As I have recently written elsewhere:
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