The Wall Street Journal

BlackRock’s ‘Woke’ Era Is Over

Asset manager has exited climate groups and eliminated diversity targets as it tries to end ESG controversy

BlackRock is the world’s largest asset manager.
BlackRock is the world’s largest asset manager. Photo: Michael Nagle/Bloomberg News

When BlackRock joined a U.N.-sponsored climate coalition in March 2021, sustainability groups were thrilled.

Having the world’s largest investment firm on board instantly lent credibility to the Net Zero Asset Managers, an initiative committed to support the goal of net-zero greenhouse gas emissions by 2050. Dozens of major investment managers followed BlackRock’s lead. 

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