BlackRock fails to assuage climate critics with Fink’s promises
Larry Fink said last month he would thrust climate change concerns to the center of BlackRock’s investment strategy. That didn’t stop activists from storming its Paris office on Monday.
Protesters barricaded the premises, sprayed red paint on the floors and covered walls with graffiti before leaving. The firm has seen also protests in other cities over the past few years, including its New York headquarters and London. Demonstrators have trailed CEO Fink to events and speaking engagements.
The world’s largest asset manager and its competitors are under increasing pressure to tackle environmental and social concerns. Fink’s pledge to change BlackRock’s approach came after months of controversy that focused on its fossil-fuel and private-prison holdings, and highlighted the challenge facing investment firms that want the best returns while also being perceived as good actors.