Last year, BlackRock was criticised by Consumers’ Research, a conservative think tank, for its “woke posturing' to hide the funnelling of money to Chinese companies through its investment funds. However, its chief has been criticised by conservative activists and politicians in the US over his support for environmental, social and governance (ESG) investing. When we harness the power of both the public and private sectors, we can achieve truly incredible things.”īlackRock has increased its assets under management to $10 trillion (£7.3 trillion) in the decade Mr Fink has been writing his annual missive, giving it significant stakes and influence in many of the world’s largest companies. Mr Fink also called on governments to provide guidance on sustainability policy and regulation because companies “can’t be the climate police. It is capitalism, driven by mutually beneficial relationships between you and the employees, customers, suppliers, and communities your company relies on to prosper. It is not a social or ideological agenda. “Stakeholder capitalism is not about politics.

Larry Fink of BlackRock used his annual letter to chief executives to deny accusations his firm has pushed a progressive political agenda, arguing that investors should focus on wider societal issues such as climate change.

The chief executive of the world’s biggest money manager has denied claims his firm is “woke”, while warning that companies rolling back flexible working patterns after the pandemic “do so at their peril”.

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