Business
Corporate Governance · Issue No. II
Business at Its Best
The BlackRock Advantage — how today's business leaders are meeting new challenges in an era of heightened scrutiny.
Special.Report Editors
2024
EXECUTIVE SUMMARY
BlackRock's ascent to managing more than $10 trillion in assets has made it the most consequential institutional investor in the history of capital markets. This report examines the strategic, regulatory and political dimensions of BlackRock's position — and what it means for corporate governance, ESG investing and the future of asset management.
THE REPORT
No institution has shaped the modern debate about corporate purpose more than BlackRock. Its annual letters to CEOs, its embrace of ESG criteria and its sheer scale have made it a focal point for both advocates of stakeholder capitalism and critics who see it as overreaching its mandate as a fiduciary.
The political backlash against BlackRock's ESG commitments — from Republican state treasurers withdrawing assets to congressional hearings — has forced a recalibration of how the firm communicates its investment philosophy. This report examines the substance behind the controversy.
