Strive CEO Matt Cole Takes Aim At BlackRock For Forcing Climate Agenda On Energy Companies, Citing 'Long-Term' Costs
Portfolio Pulse from Benzinga Neuro
Strive CEO Matt Cole criticized BlackRock Inc. (NYSE:BLK) for imposing a climate agenda on energy companies, citing long-term financial implications. Cole highlighted BlackRock's influence on Chevron Corporation (NYSE:CVX) and Exxon Mobil Corporation (NYSE:XOM) regarding climate policies and shareholder proposals. He also mentioned BlackRock's role in SEC's mandatory ESG climate disclosures and its membership in climate groups. The Texas Permanent School Fund withdrew $8.5 billion from BlackRock over its ESG policies, adding to the controversy around BlackRock's ESG investing stance.
March 22, 2024 | 5:36 am
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NEUTRAL IMPACT
Chevron Corporation is mentioned in the context of BlackRock's influence on climate policies and shareholder proposals, potentially affecting its public image and investor relations.
While the mention of Chevron Corporation is related to BlackRock's influence on its climate policies, the direct short-term impact on CVX's stock price is uncertain. However, it could affect its public image and investor relations.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Exxon Mobil Corporation is highlighted for BlackRock's involvement in climate-related shareholder proposals, potentially impacting its public perception and investor relations.
Exxon Mobil Corporation's mention in the context of BlackRock's climate policy influence indicates potential implications for its public perception and investor relations, but the direct short-term impact on XOM's stock price remains uncertain.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
BlackRock Inc. faces criticism for imposing a climate agenda on energy companies, potentially affecting its reputation and investor relations.
The criticism from Strive CEO and the withdrawal of the Texas Permanent School Fund's $8.5 billion could negatively impact BlackRock's reputation and investor relations, potentially leading to a short-term negative impact on its stock price.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100