Commentary
Anonymous activists seem to be surfacing in news reports with ever-greater frequencies. Activists are involved in a wide array of issues, but having just written about the widespread adoption of ESG scores, I am struck by the repeated references to activists who are promoting ESG.
For example, The Wall Street Journal recently reported, “BlackRock’s offices around the world have been frequented by activists who blast the firm for being slow to act on green issues.”
BlackRock—the world’s largest asset manager overseeing some $7 trillion—is one of numerous large companies to have openly adopted the ESG paradigm after being pressured by activists. Who are these activists? How do they manage to be so persuasive? What makes them voices to be heeded?…