Commentary: BlackRock CEO Larry Fink Warns Environmental, Social and Governance Investors Ukraine War Will ‘Slow the World’s Progress Toward Net Zero’ in Near Term

Larry Fink

Blackrock CEO Larry Fink warned Environmental, Social and Governance (ESG) investors in his $10 trillion hedge fund’s annual shareholder letter that Russia’s invasion of Ukraine — and the resulting Western sanctions on Russia — had disrupted globalization and interdependent supply chains and would result in “increasing oil and gas supply” in the U.S. and “coal consumption may increase over the next year” in Europe and Asia to offset the drop in Russian exports.

As a result, Fink projected, “This will inevitably slow the world’s progress toward net zero in the near term,” referring to ESG goals like net zero global carbon emissions by 2050 that would encounter challenges, particularly as American consumers pay much higher prices with consumer inflation up 7.9 percent and producer inflation up 10 percent the past twelve months.

Those price pressures will mean more oil and gas production immediately, Fink said.

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Commentary: America’s Domestic Politics Hampers Ability to End Ukraine War

family with signs protesting the war on Ukraine

In my past role as founder and CEO of Varsity Brands, I came across every old business adage in the book.  Some were cheesy, some were over simplified, but many had wisdom as their foundation.  One such phrase that’s commonly used is, and with which I struggled because of my compassion for my employees, is, “Don’t bring your problems from home into the office with you.”    

There is a variation of that phrase that should be introduced to our political leaders in Washington, albeit a bit too late.  Their version of the “leave it at the doorstep” rule needs to be, “Leave your domestic political problems at your shores when conducting foreign policy.”

It is the violation of that rule, committed by members of the Democrat Party, the mainstream media, and never-Trump Republicans, that has put the United States in a position of pure international impotence with regard to playing a meaningful role in ending the current war between Russia and Ukraine.  We are unable because of our recent obsession in trying to manufacture a collusion narrative between former President Trump and Russian President Vladimir Putin. 

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