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...“That is our expectation, and that is a service we are paying for,” he said....
...When pressed on the issue, asset managers in the US now emphasise that they are service providers....
...The 71-year-old head of the world’s largest money manager has been singled out by conservatives and fringe groups as part of a backlash against BlackRock’s use of investing based on environmental, social...
...Thames Water on Monday updated its business plan to increase the amount it plans to spend on its network to combat environmental issues such as sewage spills by £1.1bn to £19.8bn....
...The research is the latest effort to use cutting-edge computing techniques to boost the fight against cancer, which causes immense suffering worldwide and is expensive for health services to treat....
...They have criticised BlackRock and others for using their influence and votes on shareholder issues to press companies to consider environmental, social and governance matters....
...The challenge to Fink’s dual role comes as BlackRock has been under fire from multiple directions over its use of environmental, social and governance factors in investing....
...“Investor enthusiasm for sustainable investments waned and [environmental, social and governance] funds recorded their first year of net withdrawals.”...
...However, there is a continental split between European and US asset managers in their willingness to support environmental or social proposals....
...BlackRock has been trying to respond to the campaign against environmental, social and governance factors in different ways. In Washington it added a senior lobbyist with Republican ties....
...But investing in, and managing, companies with the aim of balancing profit with social justice and environmental protection is not going away....
...Normal service will resume on February 12....
...The firm’s assets have begun rising again, but it has come under sustained political fire from both the left and right over its use of environmental, social and governance factors in investing....
...Adding environmental, social or governance (ESG) provisions to executive pay has been a growing trend....
...US asset managers have faced a backlash against environmental, social and governance investing policies from Republican politicians, prompting some prominent investors to scale back action on climate issues...
...managers....
...Environmental, social and governance funds outperformed non-ESG funds during the market turmoil caused by the Covid-19 crisis, according to new analysis by Europe’s markets watchdog....
...Judging by today’s purchasing manager indices from S&P Global, UK business conditions are also looking more favourable, with services activity continuing to rise and the manufacturing downturn easing....
...A political “war on woke capitalism” has soured sentiment towards investing according to environmental, social and governance (ESG) principles — delivering a blow to the whole concept of doing well by doing...
...healthcare and other services for children....
...It also comes amid red-hot investor interest in ETFs and could become a “fundraising war”, one manager suggested....
...Whatever the economic, environmental and social benefits, independent businesses only thrive if their products and services are good....
...Of the two, BlackRock has come under greater criticism because of the focus of Larry Fink, its chief executive, on environmental, social, and governance (ESG) investing....
...That is not the case,” one fellow ESG fund manager said....
...There will also be a chance for large nation growth comparisons with the latest purchasing managers’ index reports for G7 countries and India, among others, on Tuesday....
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