"BlackRock's ESG Advocacy Poses Bottom Line Risk, Admits CEO"

BlackRock acknowledged in its SEC filing that CEO Larry Fink's advocacy for environmental, social, and governance (ESG) policies could harm its reputation and business, facing negative publicity and potential client redemptions. Fink's clean energy advocacy has drawn scrutiny from conservatives, leading to legal actions and blacklisting in some states. The controversy over ESG has also affected other companies, with Bank of America appearing to backtrack on its pledge to not fund new coal projects, and some states passing laws to prevent banks from refusing to finance coal projects.