Davos 2023: BlackRock U.S. inflows dwarf $4 bln lost in ESG backlash -CEO:
BlackRock , the world's biggest asset manager, lost around $4 billion in assets under ...
reuters.com/business/finance/davos-2023-blackrock-us-inflows-dwarf-4-bln-lost-esg-backlash-ceo-2023-01-17/
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BlackRock Sees Massive U.S. Inflows Amid ESG BacklashDespite losing $4 billion due to political pushback, BlackRock gained $230 billion from U.S. investors during 2022.
Key FactsJan 17, 2023 · Reading time: ~45 sec.
Summary created with AI assistance · Source: reuters.com
Summary created with AI assistance · Source: reuters.com
- BlackRock lost approximately $4 billion in assets under management following political opposition to ESG investments in the U.S.
- The firm attracted $230 billion in inflows from U.S. clients throughout 2022, outweighing the losses.
- CEO Larry Fink highlighted that the criticisms have become personal attacks for the first time in his career.
- Support for decarbonization and the U.S. Inflation Reduction Act are driving new business growth for the company.
If you do not have a lens towards decarbonisation, you're not going to win one euro of business.— Larry Fink, BlackRock CEO, speaking at a Bloomberg News event in Davos, about decarbonisation and business implications
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American billionaire businessperson and board member, chairman and CEO of BlackRock
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