The Wall Street Journal published an opinion article by former BlackRock senior executive Terrence R. Keeley Monday which argued against environmental, social, and governance (ESG) policies to drive investment.
"Trillions of dollars have poured into environmental, social and governance funds in recent years," began Keeley, who was a senior executive at BlackRock for over a decade from 2011-2022.
"Yet for a financial phenomenon this pervasive, there is astonishingly little evidence of its tangible benefit," he argued. Former Attorney General William Barr expressed similar concerns on Fox News' "America's Newsroom" earlier this month, where he argued that firms like BlackRock are "circumventing the Democrat process" and dictating national policy by forcing the smaller companies it finances not to produce oil and imposing other mandates.
