Bluebell Capital Partners is calling on BlackRock to replace chief executive Larry Fink over what it says are his failures to move the world’s largest money manager beyond investments in fossil fuels.
The criticism by the small activist investor comes as BlackRock and Mr Fink face attacks by US Republican Party politicians for pursuing sustainability goals and a “woke” agenda at the expense of returns. Bluebell, on the flip side of that argument, warns that Mr Fink, despite his high-profile role in advocating for so-called ESG investing, is undermining BlackRock’s credibility by continuing to invest in fossil fuels including coal.
