BlackRock’s ESG fund business soaring

BlackRock has often found itself at the receiving end of ESG-related outrage, prompting chief executive officer Larry Fink to declare the label too “weaponised” to use. — Bloomberg

NEW YORK: Despite a barrage of Republican attacks, lacklustre returns and diminishing client interest in the United States, BlackRock Inc has been quietly expanding its dominance in environmental, social and governance (ESG) investing.

The world’s largest asset manager has posted net ESG inflows every quarter for the past two years, a period that marks one of the toughest ever in the two-decade history of ESG investing.