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Fortune
Fortune
Peter Vanham, David Meyer

Pro-ESG and anti-ESG activist investors have more in common than you might imagine

Larry Fink, chief executive officer of BlackRock Inc., speaks during a Bloomberg event on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 21, 2020. (Credit: Simon Dawson—Bloomberg via Getty Images)

Good morning. Peter Vanham here, filling in for Alan.

What do an environmentally-minded activist investor and an anti-ESG activist investor have in common? More than you would think, if Bluebell and Strive are examples to go by.

Both firms made headlines this week. London-based Bluebell demanded several governance changes at BlackRock, including a replacement of CEO Larry Fink. It said the company’s inconsistent messaging over ESG hurt its reputation—and its investors. It wants a new CEO to ensure Blackrock’s environmental and social stewardship is about actions, not words.

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