'You have to force behaviors': Clip resurfaces showing BlackRock CEO tout ESG initiatives
"At BlackRock, we are forcing behaviors..."
A resurfaced clip is going viral on Twitter which shows BlackRock CEO Larry Fink admitting to “forcing behaviors” with respect to ESG initiatives, and calling on other companies to follow suit.
ESG, which stands for Environmental Social and Governance, is a form of investing that tries combining financial returns with alleged social good.
The clip is from the New York Times’ 2017 DealBook conference. In the clip, Fink declares on stage that his investment company BlackRock, which has invested $170 billion in U.S. energy companies alone, urges businesses to “force” certain types of “behaviors” onto employees.
“One thing we’re asking companies — you have to force behaviors, and at BlackRock, we are forcing behaviors,” Fink explained.
Specifically, “fifty-four percent of the incoming [BlackRock hiring] class are women. We added four more points in terms of diverse employment this year,” he added.
Fink went on to say that if companies fail to live up to the ESG goals, they could pay for it financially.
“If you don’t achieve these levels of impact, your compensation could be impacted.”
BlackRock has invested billions of dollars in green energy projects and has been on the frontline of the ESG campaign, pushing companies to adopt left-wing gender, racial and climate agenda items.
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