Bluebell Capital Partners is calling on BlackRock Inc. to replace Chief Executive Officer 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 Fink face attacks by Republican politicians in the US for pursuing sustainability goals and a “woke” agenda at the expense of returns. Bluebell, on the flip side of that argument, warns that 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.
