BlackRock’s sudden departure from the “Net Zero Asset Managers Initiative” has come at a convenient time, as Los Angeles burns amidst woke climate policies. The move signals that corporate leaders are catching on to the misguided environmental virtue signaling.
The initiative, backed by UN bureaucrats, aimed to reduce carbon emissions and save the world from climate Armageddon. However, its success was uncertain, with real scientific questions surrounding its effectiveness.
BlackRock’s exit is attributed to Republican investigations into potential antitrust violations among coalition members. The move also marks a shift away from Environmental Social Governance (ESG) investing, which prioritized profits over environmental concerns.
The consequences of woke climate policies have been dire. California’s strict environmental laws, aimed at saving a small fish species, have left the state without sufficient water to fight LA’s devastating wildfires. The city’s fire department is also struggling due to DEI hiring practices that prioritize ideology over merit.
CEOs are reevaluating their ESG strategies as they realize the impact on working-class Americans. BlackRock CEO Larry Fink and JPMorgan’s Jamie Dimon are billionaires who didn’t feel the effects of $5 gas, but others suffered at the pump. The shift away from ESG investing signals a move towards more practical environmental solutions.
As left-wing policies continue to alienate moderates, CEOs like Fink and Dimon are moving away from woke ideologies. The question remains whether these changes will bring about real change or merely appease critics.
Source: https://nypost.com/2025/01/11/business/blackrock-quits-net-zero-initiative-at-perfect-time-as-woke-policies-contribute-to-devastating-la-fires