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<blockquote data-quote="The Jeep Driver" data-source="post: 5971496" data-attributes="member: 50075">Blackrock heavily“BlackRock is using money that doesn’t belong to them to push an extreme agenda with no regard for American families who are paying the price not only now, but through their pension funds which are being weaponized to the detriment of their potential profits.”&nbsp; Quote from a report by a conservative think-tank, sums it up.&nbsp; It&#039;s essentially “shareholder capitalism” vs. “stakeholder capitalism.”&nbsp; BlackRock practices stakeholder capitalism, following a business model that not only uses DEI and ESG guidelines, but forces those beliefs onto the companies they lend to, ultimately affecting the returns to the shareholder.&nbsp; Their CEO said that BlackRock was &quot;forcing behaviors&quot; through its climate and ESG investment strategy.&nbsp; This isn&#039;t the level of fiduciary commitment I&#039;m seeking.&nbsp; This isn&#039;t the type of company I want to do business with.&nbsp; BlackRock has exited some American investments that carry “sustainability-related risks,” (meaning not “green” enough) and launching new financial products that screen for exposure to and usage of fossil fuels, while at the time investing in Saudi Arabia oil production.&nbsp; If a company needs capital to expand, and it doesn&#039;t meet the DEI and ESG stipulations set by BlackRock, they don&#039;t get funding, even if that company is a profitable one.&nbsp; If a company runs the wrong ad campaign during June, they risk losing funding, even if that company is a profitable one.&nbsp; Again, “shareholder capitalism” vs. “stakeholder capitalism.”&nbsp; 401K&#039;s pensions, and IRA&#039;s suffer loss as a result.BlackRock isn&#039;t alone in this.&nbsp; “Environmental, social, and governance” scores are showing up elsewhere; Bank of America, Citibank, JP Morgan Chase, Morgan Stanley, Goldman Sachs, and Wells Fargo have similar policy in one form or another.&nbsp; I don&#039;t do business with them either.&nbsp; And I know I&#039;m not alone in my opinion... West Virginia issued a list of banks and institutions, including BlackRock, that would be barred from entering into public contracts with the state last month.&nbsp; I except other States to follow.</blockquote>

[QUOTE="The Jeep Driver, post: 5971496, member: 50075"] Blackrock heavily “BlackRock is using money that doesn’t belong to them to push an extreme agenda with no regard for American families who are paying the price not only now, but through their pension funds which are being weaponized to the detriment of their potential profits.” Quote from a report by a conservative think-tank, sums it up. It's essentially “shareholder capitalism” vs. “stakeholder capitalism.” BlackRock practices stakeholder capitalism, following a business model that not only uses DEI and ESG guidelines, but forces those beliefs onto the companies they lend to, ultimately affecting the returns to the shareholder. Their CEO said that BlackRock was "forcing behaviors" through its climate and ESG investment strategy. This isn't the level of fiduciary commitment I'm seeking. This isn't the type of company I want to do business with. BlackRock has exited some [B]American[/B] investments that carry “sustainability-related risks,” (meaning not “green” enough) and launching new financial products that screen for exposure to and usage of fossil fuels, while at the time investing in [B]Saudi Arabia [/B]oil production. If a company needs capital to expand, and it doesn't meet the DEI and ESG stipulations set by BlackRock, they don't get funding, even if that company is a profitable one. If a company runs the wrong ad campaign during June, they risk losing funding, even if that company is a profitable one. Again, “shareholder capitalism” vs. “stakeholder capitalism.” 401K's pensions, and IRA's suffer loss as a result. BlackRock isn't alone in this. “Environmental, social, and governance” scores are showing up elsewhere; Bank of America, Citibank, JP Morgan Chase, Morgan Stanley, Goldman Sachs, and Wells Fargo have similar policy in one form or another. I don't do business with them either. And I know I'm not alone in my opinion... West Virginia issued a list of banks and institutions, including BlackRock, that would be barred from entering into public contracts with the state last month. I except other States to follow. [/QUOTE]

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