BlackRock CEO Larry Fink distances himself from ESG amid controversy.

BlackRock CEO Larry Fink admitted that Florida Governor Ron DeSantis hurt his firm when he pulled $2 billion in assets managed by BlackRock from the firm in 2022. DeSantis joined the other trustees of Florida’s Board of Administration to pass a resolution directing the state of Florida’s fund managers to invest state funds without considering the ideological agenda of the environmental, social, and corporate governance (ESG) movement. BlackRock attacked DeSantis and his state in a statement. Fink said he would not use the term “ESG” in the future because it was being politically “weaponized.”