Senate Majority Leader Chuck Schumer, D-N.Y., was the top recipient of political donations from BlackRock, a leading investment firm advocating for environmental, social and governance investing.
The headquarters of BlackRock in Manhattan, New York. BlackRock is an unapologetic advocate of sustainable investing, which considers factors including environmental impact, social responsibility and diversity when making investment decisions.published Tuesday, and in subsequent remarks on the Senate floor Wednesday, Schumer accused GOP lawmakers of adopting an anti-free market position, arguing that investment firms should be permitted to consider ESG factors if they so wish.
He argued that ESG is not a matter of "ideological preference," and wrote, "investors and asset managers increasingly recognize that maximizing returns requires looking at the full range of risks to any investment—including the financial risks presented by increasingly volatile natural disasters, aging populations and other threats that the public doesn’t normally associate with financial modeling.
Florida Gov. Ron DeSantis is one of may Republicans who have spoken out against ESG investing, accusing companies of bowing to left-wing pressure in the"culture wars."on the proxy advisory firm Glass Lewis, AAF researchers contended that ESG policies "threaten corporate competitiveness and erode shareholder value.
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