BlackRock CEO Backtracks on ESG Support Amid Backlash but Stays Committed to Principles

BlackRock CEO Larry Fink expressed regret over the politicization of ESG investing, a concept he championed, though the firm remains committed to its principles.
ESG has become polarized, with Republicans calling it "woke capitalism" and progressives accusing it of "greenwashing."
Fink wants to avoid using "ESG" due to its weaponization but backs "conscientious capitalism."
Despite political controversy, BlackRock's business has not suffered materially.
Critics argue companies are sacrificing financial objectives for a "woke agenda," though proponents counter it expands responsibility beyond shareholders.