ESG controversy has sparked political attention, including from several prominent Republicans, such as the presidential nominee, who have criticized BlackRock’s ESG strategy. Republicans argue that ESG policies impede investment freedom and advocate for multiple anti-ESG bills. This political backlash has resulted in tangible financial consequences, with approximately $6 billion being withdrawn from BlackRock funds by conservative state pension funds.
BlackRock Layoffs: Is the Political Backlash Caused by ESG Responsible for the Development of Bitcoin ETFs?