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Tuesday, March 03, 2020|
WSJ Versus Fink
The Wall Street Journal is taking on Larry Fink over the BlackRock [profile] chief's ESG push.
On the flip side, BlackRock and fellow passive giants continue to face flak for not going far enough with their ESG pushes, perhaps talking more about ESG than their proxy voting records suggest. A year ago there was even a hoax Fink public letter with a more aggressive ESG stance.
Last month, As You Sow's new report asked "Are Fund Managers Asleep at The Wheel?" The report highlights big discrepancies between asset managers over how much they vote for and against management. The big passive managers do follow a pattern in that report: more so than all the other asset managers cited, the big passive firms like BlackRock rarely vote against management. So much for the excessively ESG perspective that the WSJ worries about?
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