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Benzinga
Benzinga
Business
Phil Hall

BlackRock CEO Larry Fink: ESG Investing Is Not 'Woke', It's The 'Power Of Capitalism'

Larry Fink BlackRock BlackRock Inc. BLK NYSE

BlackRock Inc. (NYSE:BLK) CEO Larry Fink pushed back against critics of the Environmental, Social and Governance (ESG) investing by declaring this brand of stakeholder capitalism is not taking political correctness to woke extremes.

What Happened: In his annual letter to corporate executives, which was released under the title “The Power of Capitalism,” Fink insisted the pursuit of ESG standards was not antithetical to the pursuit of profits.

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