BlackRock Chief Executive Larry Fink said Thursday that the firm was unfairly targeted by candidates in the fourth Republican presidential debate, calling it a “sad commentary on the state of American politics.”
BlackRock, the world’s largest asset manager, has faced a backlash from state pension plans in Republican-led Florida, Louisiana and Missouri for the firm’s ESG policies, which filter possible investments based on environmental, social, and governance screens. Overall, the firm lost about $4 billion in 2022 in assets under management as a result of its ESG stance while pulling in $230 billion in inflows.
![Larry Fink](https://cdn.statically.io/img/nypost.com/wp-content/uploads/sites/2/2023/12/2023-dubai-united-arab-emirates-73240012.jpg?w=1024)
![Republican presidential candidates from left: Chris Christie, Nikki Haley, Ron DeSantis and Vivek Ramaswamy](https://cdn.statically.io/img/nypost.com/wp-content/uploads/sites/2/2023/12/2023-tuscaloosa-alabama-four-presidential-73372615.jpg?w=1024)
Florida Governor Ron DeSantis criticized the firm in Wednesday’s debate for using its “economic power” to instill a “left wing agenda.”
“The only agenda we have is delivering for our clients,” Fink wrote in a LinkedIn post. “One candidate last night claimed that BlackRock was somehow deterring American energy companies from drilling for oil. The reality: BlackRock clients have more than $170 billion invested in American energy companies and just last month, we announced a joint venture with one of America’s largest energy companies to help develop new technology.”
Shares of BlackRock closed up 0.3% at $745.44