Financial asset manager BlackRock said in its annual report that environmental, social, and governance policies could hurt its bottom line after Republican state officials cut ties with the company over its ties to China and climate activism.
In its annual Form 10-K SEC filing put out last week, BlackRock said that it was facing ESG-related risk factors that might cause it to lose revenue and damage its earnings. The financial giant, which has over $10 trillion in assets, has faced scrutiny from Republican officials who say the company misleads its customers about leftist policies.
“If BlackRock is not able to successfully manage ESG-related expectations across varied stakeholder interests, it may adversely affect BlackRock’s reputation, ability to attract and retain clients, employees, shareholders and business partners or result in litigation, legal or governmental action,…
