In a recent interview, Larry Fink, CEO of BlackRock, signaled a shift in tone. The firm, once a strong advocate of ESG and DEI, is now taking a more “pragmatic” approach. Fink described the “woke” phase as part of a cycle and suggested it may have gone too far.
Looking past the word soup: what does it even mean for a financial firm to lead “environmental and social activism”?
As one Reddit commenter put it:
“None of this even touches on the absurdity of the proposition that an entity such as BlackRock could be considered an interlocutor for ‘environmental and social activism.’”
Another commenter sharpened that critique:
There’s a reason finance capitalist environmental and social plans focus so much on ‘consumerism’ and envision saving the world through a reduction of people and production, and in rent seeking, not a change in property ownership.”
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