Blackrock has lodged its 2023 annual report with the US securities exchange this week. It contains an interesting disclosure.

The relevant Form 10-k filing is at this link. The interesting disclosure relates to business risks and Blackrock’s stance on ESG matters. An excerpt is shown below.

We can conclude that the Blackrock board of directors knows that its pro ESG stance is a risk to its business. Accordingly it has warned investors, as required under US security laws. So all that waffle from Larry Fink over the years that ESG is good for business is wrong? That’s a big admission. Readers will know that I am not a fan of Fink. I suspect the board is beginning to realise that there are many people who are also not fans of Fink and the ESG poison that he has peddled.