BlackRock CEO Larry Fink defended the environmental, social and governance (ESG) standards in a 2017 video that has resurfaced on social media, In particular, Fink stressed the need to "force behaviors."
The aforementioned clip showed Fink boasting how his investment firm forced companies to accept the ESG system alongside the diversity, equality and inclusion (DEI) system during a 2017 DealBook conference sponsored by the New York Times.
"Behaviors are going to have to change, and this is one thing we are asking companies. You have to force behaviors – and at BlackRock, we are forcing behaviors," the BlackRock CEO said. "If you don't force behaviors – whether it's gender, race, or just any way you want to – say, the composition of your team, you're [going to] be impacted. That's not just recruiting; it is development."
The CEO of the world's biggest asset management firm also touted that his company "added four more points in terms of diverse employment" for that year. Fink continued: "What we were doing internally is if you don't achieve these levels of impact, your compensation could be impacted."
Many users voiced out their thoughts about Fink's 2017 revelations on social media. Twitter owner Elon Musk also joined in the fray, writing that the BlackRock CEO's remarks were "concerning."
"ESG and DEI control mechanisms are not designed to improve social justice or the environment. They are simply meant to consolidate economic power," InfoWars noted. According to the outlet, the globalist Club of Rome outlined the exact plan Fink brags about in its 1991 book "The First Global Revolution." The book stated that the elites would use "global warming" and "climate change" to assert the New World Order agenda. (Related: The Club of Rome: How climate hysteria is being used to create global governance.)
Fink defends wokeism years after 2017 conference
Five years after the 2017 conference where he defended the need for ESG, DEI and "forcing behaviors" – Fink doubled down on his defense of the woke agenda. He claimed that investors focusing on the interests of wider society instead of pure profits are not woke.
"Stakeholder capitalism is not about politics," the BlackRock CEO wrote in a January 2022 open letter. "It is not a social or ideological agenda. It is not 'woke.' It is capitalism driven by mutually beneficial relationships between you and the employees, customers, suppliers and communities your company relies on to prosper."
But the letter failed to mollify critics. The Washington, D.C.-based nonprofit Consumers' Research argued that BlackRock's "woke posturing" was a smokescreen for funneling money to Chinese companies via its investment funds. The nonprofit also launched an advertising campaign attacking the asset management firm.
The Department of Labor also proposed permitting fund managers to include ESG as part of their fiduciary duty to investors in 2021. However, Republican lawmakers did not take too kindly to the suggestion.
Sen. Marco Rubio (R-FL) cited the proposal as "the latest example of how the political left works." He commented: "They want to remake the entire country to comply with the latest woke agenda."
His colleague Sen. Ted Cruz (R-TX) also shared the same sentiment. The lawmaker from the Lone Star State commented that "powerful CEOs have made the decision to use their companies to enforce the political agenda of today's Democratic Party, which is controlled by the Radical Left."
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