BlackRock strikes back against ESG activism accusations

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Here’s news from “ESG Today”:

BlackRock has pushed back against allegations from Republican officials that it is pursuing a climate-focused agenda not aligned with its clients’ financial interests. In a letter to responding to claims from 19 state Attorney General, the investment giant argued that the claims are based on “misconceptions,” and that its climate focus is in fact fully aligned with its fiduciary duty “to identify short- and long-term trends in the global economy that may affect our clients’ investments.”

BlackRock added that it is “disturbed by the emerging trend of political initiatives” that may deprive investors of the ability to pursue compelling investment opportunities and impact their returns.