Activist investor calls for BlackRock CEO Fink to step down over ESG ‘hypocrisy’

Larry Fink, Chairman and C.E.O. of BlackRock arrives at the DealBook Summit in New York City, November 30, 2022.

David Dee Delgado | Reuters

LONDON — BlackRock CEO Larry Fink is facing calls to step down from activist investor Bluebell Capital over the company’s alleged “hypocrisy” on its environmental, social and governance (ESG) messaging.

Fink has become an outspoken proponent of “stakeholder capitalism” and in his annual letter to CEOs earlier this year, pushed back against accusations that the giant asset manager was using its size to push a political agenda.

However, in a letter to Fink dated Nov. 10, shareholder Bluebell expressed concern about the “reputational risk (including greenwashing risk) to which BlackRock under the leadership of Larry Fink have unreasonably exposed the…

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