Blackrock Capital Investment CEO Laurence Fink tells corporate leaders to make a plan to get to their carbon-neutral future, and disclose what they’re doing publicly…or else. Is Fink just virtue signaling, or rationally realizing that government will soon force business to make radical changes? Should corporations kowtow to the $9 trillion gorilla that is Blackrock? What if climate-friendly business practices make for investor-friendly profits?
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21 replies on “$9 Trillion Climate Gorilla: Blackrock Pushes Big Business toward Carbon-Neutral Future”
It’s fascism, straight up. As we’ve seen fro GameStop kerfulffle, the government and high finance are connected at the hip. Especially this Administration. Couldn’t say who’s pressuring who but the upshot is a $9 trillion company is being used to force preferred government policies on the pubic.
Rockwell is an excellent example of the “Smart Stupid.” The “Smart Stupid” are those individuals that would include the Democratic Socialist (OXYMORON), the Gaggle known as the NEW Democratic Socialist (OXYMORON) Party, the Party of INSANITY, ANTI-AMERICANISM, FRAUD & TYRANNY, FAKE non-NEWS, the Babbling Heads and the “elites” who ALL believe that they are “smarter”, MORE knowledgable, have determined what is “best” for Everyone else and much MORE Compassionate, Caring & Sensitive. Further, these “Smart Stupid” individuals act nearly ALWAYS within the mindset of a Collective unit much like the BORG did in Star Trek , the Next Generation. They run on POWER, CONTROL and GREED. Their fuel is the LIE which is told repeatedly, convincingly and with passion. Eventually, the “OTHERS” will come to believe the LIE since everyone else has accepted it and they desperately want to be apart of the “in-crowd.”
Because they so desperately believe and accept that they are “smart,” their “smartness” covers up, denies, buries and/or dismisses their “STUIPD.” Therefore, these “Smart Stupid” will go even further and lets call them MORONS are very VERY dangerous. Dangerous because they live in a Bubble, an Alternative Reality populated by other “Smart Stupid” individuals just like them with ALL the answers to ALL the Problems.l They get ALL the reinforcement necessary to continue the BIG LIE/DECEPTION becoming ever MORE BOLDER simply because of who they are.
The Game STOP battle between the BIG Investors who because they were “Smart Stupid” individuals and believe 100% in their “superiority” plus “knowledge” were trapped by themselves into a non-escapable box where there ONLY option was to double down resulting in total DEFEAT by the dreaded to them AVERAGE Investor. WHY? because they are “Smart Stupid.;”
The “Smart Stupid” can be BESTED.
If the CEO of Blackrock were actually advising companies that he sees the market shift and has data supporting that companies with a “green” plan are more profitable, that would be one thing. The cynic in me thinks it is more likely that the CEO is fully on board with the green agenda and has a seat at the table with Joe and the other cartel members. Therefore he is using his influence to push an agenda so that when the government mandate is proposed it can be spun as the most profitable companies already do this.
Shorty after the coronation, my companies CEO revealed that he has been appointed to one of Joe’s councils on climate, and snap, so many decisions that had been foggy were made clear.
I’m pretty positive that energy costs per kwH are fairly competitive now even for unsubsidised wind, solar etc.
Beck has an episode where he outlines the connections between former Blackrock execs who are now part of the Biden team… it is all coordinated…
I guess the Solyndra fiasco just wasn’t enough…
I’m burning old tires in my backyard to offset any gains the doomsday preachers from the Church of Climatology think they’re going to make. I’m going to prepare for a coming Ice Age and the threat of Global Cooling. I don’t need to provide any evidence of my belief because evidence and facts are racist so If any of the CO2 green gas bags wants to save the planet bad enough I suggest sepuku.
Yes, fire up those engines and stave off the coming snow-pocolypse.
The one, in the late 70s, that all the experts were sure was inevitable in th next couple decades.
Managed funds are by nature a compromise. Never the new hotness. They are always looking to hedge all the bets so as not to be the odd man out when the music stops playing, and there’s one less chair remaining. This is a zero sum game, because such is the only economic model afforded the modern Luddites of Green economics.
Wisdom Tree funds, did the Blackrock move three years ago.
I held EXT, a wisdom tree ETF value based ETF. Loved this fund, and held it for many years. Then wisdom tree decided to transform my investment to the RESP ticker, changing the fund to be “woke” with the fund prospectus describing the new fund as:
“The WisdomTree U.S. ESG Fund (RESP)* seeks to achieve its investment objective by integrating factor-based investing with U.S. companies who screen favorably on environmental, social and governance (ESG) standards.”
Because of my significant unrealized capital gain, I am dribbling out of my ESP position every year, and will never again send a new dollar to Wisdom Tree.
Blackrock is no different than Wisdom Tree. Just three years later and much bigger. Glad I have zero exposure to blackrock funds.
I have to agree that it is nothing but virtue signaling of one rich man showing off to another, at the expense of the middle class and poor who are going to have to suffer for these decisions. The answer is both companies like Blackrock and the government are going to have to be Rained in. The question is how to do this.
None of the companies involved here, neither Blackrock nor the companies whose shares they hold, are acting voluntarily.
The moment the government says, “Do this or we’ll make you,” they have already initiated force against the object of their statement. They’re already making them do the demanded behavior. Blackrock is just as forced in this as the companies they deal with. It’s the government that’s guilty.
The threat of force is itself force. It’s called extortion.
I agree this problem would be solved just by letting the free market handle it.
But we don’t have a free market, do we…
Scott, the way you put that genie back in the bottle is called the Constitution. We all know about 90% of all government actions are forbidden by the constitutional.
The real question is how do we reinforce it?
Bill, stop calling it “Joe Biden’s election.”
It was Joe Biden’s installation. Control the dialogue.
Where is the “Separatio of Church and State!” crowd now that Climastrology seems to be becoming our state religion?
“Climastrology.” I love it.
I wish I could take credit for that one, but the honor goes to William Teach over at https://www.thepiratescove.us/
His is a good site to add to your favorites
My concern would be whether this is a “carrot” or a “stick”; I figure Blackrock is preparing their accounts to be ready for the emphasis on green, but I firmly believe in letting the market steer the direction and not government. If “green” becomes an unfunded mandate … will I be forced to stop using a wood stove, and unable to afford the alternatives?
Damn good question, the madness has only begun.
Can we set up a Subreddit to start short selling shares of Blackrock?