During the discussion in which BlackRock CEO Larry Fink told his audience that his firm was “forcing behaviors” on companies whose shares it held, he also divulged a key lever of the progressive movement to control corporations: proxy voting. Fink told attendees at a 2017 New York Times conference that as an index fund manager,…

Finance and energy experts testified before the House Oversight Committee on Tuesday that the environmental, social, and governance (ESG) movement is impairing Americans’ retirement savings, reducing living standards, and infringing on civil rights, while Democrat members protested that GOP efforts against ESG threatened Americans’ economic freedom. “As American families continue to struggle under rampant inflation,…

News Analysis Texas state senators struggled for more than six hours last week to get straight answers from Wall Street giants BlackRock and State Street, two of the world’s largest asset managers, regarding what they are doing to compel companies whose shares they own to get in line with the ESG movement. Having joined global…

Australia’s competition watchdog should receive new powers to stop any potential merger that could see “mega-funds” like U.S. giants BlackRock, Vanguard, and State Street widen control over an industry, according to a parliamentary committee. On April 11, the Standing Committee on Economics in Australia tabled its report examining the influence of the mega-funds, which also…

The world’s fourth-largest asset manager, State Street, is putting listed companies on notice to take more action on climate change and ensure more women are promoted to board positions. State Street Global Advisors (SSGA) controls around US$4 trillion in shares across significant companies in the United States, Australia, Canada, Europe, and the United Kingdom, and…