BlackRock appears to be trying to make up for its politicized, anti-fossil fuels ESG investment strategy, according to a report by Fox News:
“In a release obtained by Fox News Digital on Monday, BlackRock officials said the firm remains committed to providing its clients with choices that support their growing range of investment preferences via its Voting Choice program.
“‘We continue to innovate and provide more choice to our clients who wish to take a more direct role in the proxy voting process,’ Joud Abdel Majeid, global head of BlackRock Investment Stewardship, said in the release.
“‘We’re pleased to add a third proxy advisor to our platform and the option for more clients to customize their voting guidelines to reflect their specific goals and objectives.’
“In that regard, BlackRock will be adding Delaware County, Pa.-based ratings firm Egan Jones as a third proxy adviser beginning in July. Sean Egan, the founder of Egan Jones, was previously ranked by Fortune as the No. 1 prognosticator of the 2008 financial crisis.
“… But a top public policy expert who has long spoken out against the politicization of the financial services sector told Fox News Digital that BlackRock is not successfully affirming any kind of apolitical fiduciary stance by bringing Egan Jones into its advisory fold.
“Dr. Kevin Roberts, president of the Heritage Foundation, said BlackRock’s move was tardy at best.
“Blackrock CEO ‘Larry Fink may claim that ESG has ‘been weaponized by left and right,’’ he said, referencing a July 2023 Fox Business interview with Fink. ‘But he’s missing the reality: Everyday Americans recognize ESG for the scam it is.’”
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