London-based Bluebell Capital Partners is calling for BlackRock CEO Larry Fink to step down, arguing he has taken an inconsistent approach to environmental, social and governance (ESG) policies, putting clients’ investments at risk. Bluebell also accused BlackRock of imposing its “ideological beliefs on the corporate world,” inspiring pushback to the ESG investing movement. (The Logic)
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London-based Bluebell Capital Partners is calling for BlackRock CEO Larry Fink to step down, arguing he has taken an inconsistent approach to environmental, social and governance (ESG) policies, putting clients’ investments at risk. Bluebell also accused BlackRock of imposing its “ideological beliefs on the corporate world,” inspiring pushback to the ESG investing movement. (The Logic)
Talking point: Despite being relatively small—Bluebell manages just US$250 million in assets—the investment firm has had success with its activist campaigns, most notably in helping oust Danone CEO Emmanuel Faber in 2021. The pressure on BlackRock underscores the challenges investors face from both ESG proponents and critics. Republican officials in several U.S. states have pulled money from the asset manager over concerns it places too much emphasis on ESG, and Texas has threatened to ban BlackRock and several other ESG-focused companies from state pension funds.
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