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BlackRock announces support for pension alliance (2024)
| Environmental, social, and corporate governance |
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| • What is ESG? • Enacted ESG legislation • Arguments for and against ESG • Opposition to ESG • Federal ESG rules • ESG legislation tracker • Economy and Society: Ballotpedia's weekly ESG newsletter |
BlackRock, the world’s largest asset manager, has announced its support for the Alliance for Prosperity and a Secure Retirement. The group, led by retired Phoenix firefighter Tim Hill, argues that state politicians should stop pushing back against ESG and allow asset managers to make decisions about ESG in pension plans:
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Hill said the group had been set up to rally pension industry participants in support. 'We decided we were going to try and take this different tack of enlisting the industry to assist us, primarily in the financial burden of pushing back and protecting our funds and fund managers,' he said. BlackRock said in a statement that it was 'proud' to back the alliance, adding: 'As a fiduciary, our mission is to help more people experience financial wellbeing in all phases of life. The alliance is one of many organisations that BlackRock supports which are committed to helping more Americans retire with dignity on their own terms.' … BlackRock’s website lists the Alliance for Prosperity as one of 13 organisations that it is working with to encourage discussion of retirement issues. The group is backed mostly by public safety unions, which have a history of being more conservative on climate and social issues than some of their counterparts in service industries. It also includes a federation of builders’ unions whose pension funds have $800bn in assets, including the US’s largest electricians’ union.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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