BlackRock, the world’s largest money manager, is mounting a new defensive strategy amid fierce scrutiny by Republicans and accusations its CEO Larry Fink is pandering to “woke” climate and social values.
The Wall Street firm rolled out a new webpage Friday detailing its energy investment strategy that it branded as “setting the record straight,” refuting claims from Republican-led states that it is boycotting fossil-fuel companies and prioritizing liberal climate policies over investors’ financial returns.
“The energy industry plays a crucial role in the economy, and, on behalf of our clients, BlackRock has invested $170 billion in U.