On 12/7/2023, BlackRock CEO Larry Fink made headlines for calling Republican presidential candidates “Pinocchios.” He hurled the schoolyard insult after a number of candidates called out the world’s largest asset manager for using client funds to push its environmental, social and governance (ESG) agenda during the Republican presidential debate.
“One candidate last night claimed that BlackRock was somehow deterring Americanenergy companies from drilling for oil,” Fink wrote on Linked In, apparently baffled bythe charge. “Another candidate accused BlackRock of pursuing an ideologicalagenda.” Neither is true, the BlackRock executive pleaded. It’s all part of a “misinformation” campaign.
But is it?
Let’s look at the facts.