Consumers’ Research launched an ad campaign exposing BlackRock CEO Larry Fink’s climate activism and its cozy ties to the Chinese government.
Consumers’ Research launched four mobile billboards driving around the Texas Independent Producers and Royalty Owners (TIRPO) convention and the Texas state capitol, highlighting that BlackRock CEO Larry Fink has continued to push environmental, social, and governance (ESG) investing.
BlackRock, the world’s largest asset manager, has been moving towards pressuring public companies to comply with Fink’s goals of advancing climate change policies and other controversial issues.
Consumers’ Research hopes to highlight that BlackRock has continued to push for diminished domestic oil production while making massive profits off of foreign oil.
Here is one billboard ad:
— Will Hild (@WillHild) March 28, 2022
Consumers’ Research launched an ad, “Backpedaling,” that has aired in the Austin and Houston markets; the ad highlights BlackRock’s cozy ties with China and other authoritarian governments:
Will Hild, the executive director of Consumers’ Research, said in a statement:
BlackRock and Larry Fink are suddenly trying to cozy up to the oil and gas industry. They want to pretend they haven’t spent the last decade undermining America’s energy independence while they continue to build up China’s economy. You’d think a company that has made it their mission to enforce ESG standards on American businesses would apply those same standards to foreign investments, but BlackRock isn’t pushing its woke agenda on China or Russia. America’s consumers know a liar when they see one and Consumers’ Research isn’t going to let them get away with it.
Rep. Mike Waltz (R-FL) said about the Consumers’ Research ad, “BlackRock and Larry Fink preach their ‘woke’ agenda to American companies here at home while making sweetheart deals with the #CCP & Russia.”
BlackRock and Larry Fink preach their 'woke' agenda to American companies here at home while making sweetheart deals with the #CCP & Russia.
— Rep. Mike Waltz (@michaelgwaltz) March 28, 2022
In an annual letter to chief executives, BlackRock CEO Fink wrote, “climate change has become a defining factor in companies’ long-term prospects … But awareness is rapidly changing, and I believe we are on the edge of a fundamental reshaping of finance.”
Then in a “stewardship expectations” report, BlackRock said it would pressure companies to disclose the racial, ethnic, and gender makeup of their employees, and ensure they are taking measures to advance “diversity, equity, and inclusion.”
“We are raising our expectations, in the context of regional norms, on board and workforce ethnic and gender diversity,” Blackrock said.
As part of its climate change activism, BlackRock pushed to have three climate change activists on the Exxon board to force the company to adopt radical changes to its climate change policies.
BlackRock is a major owner of PetroChina, a subsidiary of the state-owned China National Petroleum Corporation, ignoring its ties to alleged Chinese human rights abuses and corruption. PetroChina has been accused of human rights abuses related to the oil and gas pipelines under construction in Burma.