— Will Hild (@WillHild) January 13, 2025
BlackRock was a major supporter of ESG investing in years prior, with CEO Larry Fink claiming in 2020 that “climate risk is investment risk” and that climate change would lead to a “fundamental reallocation of capital.”
BlackRock, which manages over $10 trillion and has been a leader in environmental, social and governance (ESG) investing, announced its exit from NZAM Thursday, with its vice-chair Philipp Hildebrand saying the firm’s involvement in the environmental coalition “caused confusion regarding BlackRock’s practices and subjected us to legal inquiries from various public officials.” Now, NZAM has pressed pause altogether, halting operations while it conducts a review of its activities, an NZAM press release published Monday stated. (RELATED: UN Reportedly Moves To Unlock Tens Of Millions In Climate Funding For Country Run By Terrorists)
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