Financial News

BlackRock Reports Increasing Politicization of ESG Poses Business Risks

In its 2023 end-of-year filing with the U.S. Securities and Exchange Commission (“SEC”), BlackRock pointed out that its ESG investment strategy was a risk for the company, partly because of the growing political scrutiny surrounding environmental, social and governance practices. BlackRock is a multinational investment company as well as the biggest asset manager globally with $10 trillion in assets.

The company explained in its 10-K form that if it wasn’t able to successfully manage expectations related to these practices across varied shareholder interests, it’s reputation would be negatively affected, as would its ability to retain and attract employees, clients, business partners and stakeholders. The 10-K form is a report detailing…

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