Three weeks ago, at the Aspen Ideas Festival, BlackRock CEO Larry Fink revealed that he had abandoned the term “ESG” (every virtue signaler’s beloved “environment, social, and governance” acronym) because it has been highly politicized and even “weaponized,” and he is “ashamed” to be part of the debate.
Many applauded the decision, which they viewed as actually representative of the truth: after all, Fink acknowledged at the event that Ron DeSantis’ decision to yank $2 billion in assets from the world’s largest money manager in late 2022 over “woke” policies hurt his firm. DeSantis of course, is not alone: lawmakers from red states have retaliated and called out BlackRock for its toxic woke capitalism push in corporate America. Besides Florida, states like Louisiana, South Carolina, Utah, Arkansas, West Virginia, Missouri, and Texas have withdrawn funds from the asset manager which previously said it would not longer invest in “fossil fuels” and other causes that were unworthy of ESG’s consummate virtue signaling.
Fast forward to today when we learn that Blackrock named the boss of Saudi Aramo, Amin Nasser, as the fund’s independent director.
Yes, the same Saudi Arabia whose Crown Prince Mohammed bin Salman dismembered WaPo’s Jamal Khashoggi without prejudice, a move which not only led to a chilling collapse in US-Saudi relations which has lasted to this day (as Saudi Arabia openly mocks Biden’s demands for increased oil production) but which also leaves quite a bit to be desired on the “social” vertical of the ESG religion; and yes, the same Saudi Arabia which also happens to be the world’s largest producer of oil, and whose “Environmental” rank may leave just a little to be desired, especially to idiots such as these.
But not to Blackrock, and consummate WEG globalist Larry Fink, who after years of hiding behind the ESG smokescreen if and when it was convenient to convince the peasants just what a lovable, cuddly $10 trillion money manager Blackrock actually is, finally revealed that it was all just one giant lie, and its so-called ESG standards were nothing more than a joke.
Nasser has led the world’s biggest oil producer since 2015, including overseeing its public listing, and provides BlackRock with “a unique perspective” on key issues facing the company and its clients, CEO Larry Fink said Monday in an emailed statement.
“His leadership experience, understanding of the global energy industry and the drivers of the shift toward a low-carbon economy, as well as his knowledge of the Middle East region, will all contribute meaningfully to the BlackRock board dialogue,” Fink said in the statement.
Not that we have anything against Nasser: unlike Fink, he never pretended to be something he never was. Nasser joined Saudi Arabia’s state oil giant as a petroleum engineer in 1982, and decades later having worked his way up from the ground floor, led Aramco’s initial public offering in 2019.
His expertise in the Middle East will fill the gap left by Bader Alsaad, chairman of the board of the Arab Fund for Economic & Social Development, who is not standing for reelection on BlackRock’s board in 2024, the asset manager said on Monday.
BlackRock – which will henceforth be the butt of every anti-ESG joke, if the concept of ESG even exists for any other purpose than manipulating mentally-challenged idiots into believing random propaganda…