
CEO Larry Fink is escalating his leftist political agenda influence, exerted through his mega-investment firm BlackRock, to outright intimidation.
It began gently almost three years ago, with Fink urging several corporate CEOs in a letter to make “a positive contribution to society” beyond generating profit for shareholders, to “serve a social purpose.” The initiatives pressed most urgently addressed climate change risk and disclosure, and diversity initiatives.
The tone has gone from pleadings to threats, as outlined in BlackRock’s “2021 Stewardship Expectations,” issued a couple of weeks ago in advance of corporate annual meetings that will be held in the coming months. As reported by investment equity law firm Ropes & Gray, BlackRock has intensified its demands in pursuit of compliance with its priorities.
Among BlackRock’s plans:
- “Broadening the universe of focus companies – from 440 to more than 1,000 – that it