BlackRock CEO Larry Fink Defends Firm Against Republican Criticisms

Fink refutes claims of a 'left wing agenda', stating BlackRock's focus is on delivering for its clients and highlights $170 billion investment in American energy companies.

BlackRock CEO Larry Fink has responded to criticisms from Republican presidential candidates, stating that the firm was unfairly targeted in the fourth Republican presidential debate.
Fink refuted claims that BlackRock is using its 'economic power' to instill a 'left wing agenda', stating that the firm's only agenda is delivering for its clients.
BlackRock has faced backlash from state pension plans in Republican-led Florida, Louisiana and Missouri for its ESG policies, leading to a loss of about $4 billion in assets under management in 2022.
Fink clarified that BlackRock clients have more than $170 billion invested in American energy companies, and the firm recently announced a joint venture with one of America's largest energy companies to develop new technology.
Shares of BlackRock rose 0.5% in afternoon trading, slightly behind the 0.7% gain in the benchmark S&P 500.