Larry Fink's Strategic Shift: Embracing Energy Pragmatism Over ESG |
In his annual Chairman’s Letter to Investors, BlackRock CEO Larry Fink made a notable shift in tone by omitting direct references to environmental, social, and governance (ESG) factors, a significant pivot from previous communications.
Instead, Fink focused on the concept of "energy pragmatism," advocating for a balanced approach to energy transition and energy security. This stance comes in response to conservative criticism and recent financial moves against BlackRock, such as Florida and Texas withdrawing billions in investments due to the company's ESG advocacy.
Despite these setbacks, BlackRock saw its managed assets increase by 16% to $10 trillion in 2023, aided by significant investments into climate funds. |
Clean Energy Revolution Now Sweeping America
Hundreds of trillions are being spent…
Altering the course of elections… portfolios… and life as you know it…
|
Fink's letter hinted at a strategic realignment, emphasizing stakeholder capitalism and sustainable investing without explicitly using the politicized term "ESG." He argued for a pragmatic mix of renewable and traditional energy sources to ensure energy security and meet the growing demands, particularly referencing Texas’ energy needs.
This approach seeks to reconcile the pressures of decarbonization with the practicalities of current energy reliance, potentially easing conservative concerns while maintaining a commitment to climate investment strategies.
Fink realizes that without abundant, clean, baseload power, none of the goals envisioned by ESG can be realized, nor can society continue to function.
This change in stance mirrors his about-face on Bitcoin last year. It didn’t take long for him to change his tune on the digital asset. In less than a year it went from Bitcoin being “an index of money laundering” to “digital gold.”
And mining this “digital gold” requires massive amounts of electricity. So does artificial intelligence (AI).
Fink knows this, and is positioning Blackrock to profit massively from both.
|
Chris Curl
Editor, Daily Profit Cycle |
p.s. On May 8th at 2pm ET / 11am PT we’ll be going live with our Quarterly Tech Summit exclusively for members of Digital Dispatch. We’ll answer your questions live and talk about the state of the market. You won’t want to miss it! |
Chris Curl is the editor of his premium publication Crypto Cycle. He manages a $50k real-money portfolio, with the goal of turning it into $1 million over the next two years (and invites his readers to follow him step-by-step along the way, so they can build fortunes of their own). Chris also uncovers the fast-breaking opportunities in crypto, all while avoiding crypto’s pitfalls.
At Digital Dispatch, Chris is working with John Carl to discover what’s ahead for advanced robotics, digital assets, and supercomputers.
See more about Chris and his latest articles on Daily Profit Cycle here. |
No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned. Daily Profit Cycle and Digest Publishing do not provide individual investment counseling, act as investment advisors, or individually advocate the purchase or sale of any security or investment. Subscribers should not view this publication as offering personalized legal or investment counseling. Investments recommended in this publication should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company in question. This letter is not intended to meet your specific individual investment needs and it is not tailored to your personal financial situation. Nothing contained herein constitutes, is intended, or deemed to be – either implied or otherwise – investment advice. Neither the publisher nor the editors are registered investment advisors. This letter reflects the personal views and opinions of the editor and that is all it purports to be. While the information herein is believed to be accurate and reliable it is not guaranteed or implied to be so. Neither Digest Publishing, its related companies, employees, nor anyone else, accepts any responsibility, or assumes any liability, whatsoever, for any direct, indirect or consequential loss arising from the use of the information in this letter. The information contained herein is subject to change without notice, may become outdated and may not be updated. Digest Publishing, entities it controls, family, friends, employees, associates, and others may have positions in securities mentioned, or discussed, in this letter, and may increase or decrease those positions at any time. No part of this letter/article may be reproduced, copied, emailed, faxed, or distributed (in any form) without the express written permission of Digest Publishing. Unauthorized reproduction of this newsletter or its contents by Xerography, facsimile, or any other means is illegal and punishable by law. All rights reserved. Copyright © 2024 |
Daily Profit Cycle 2051 Gattis School Rd Ste., Round Rock, TX 78664 Unsubscribe |
|
|
|
