BlackRock’s woke capitalist vision is failing: here’s why

Corbett shows how public outrage at the unelected political power of asset managers has led to an investor backlash, with politicians and legislators taking steps against the “forcing of behaviors” which BlackRock CEO Larry Fink once trumpeted as his mission

The always engaging James Corbett has produced some of the most informative guides to the power of BlackRock – who together with second-placed Vanguard Group own a combined 15 trillion U.S. dollars of assets under management.

In this report I relate how Corbett argues for a fightback against BlackRock and the asset management giants like them, who use their power to shape the world regardless of public consent. His views are more than corroborated by the news which followed the release of his video.

Corbett’s September 21 presentation, “How to Defeat BlackRock,” followed up by his excellent, “How BlackRock Conquered the World,” begins with some very encouraging news about the fortunes of the global investment giants – and what can be done to stop them. Happily, this process is already underway.

Corbett shows how public outrage at the unelected political power of asset managers has led to an investor backlash, with politicians and legislators taking steps against the “forcing of behaviors” which BlackRock CEO Larry Fink once trumpeted as his mission.

According to Corbett, and a growing number of other sources, this pressure looks likely to force asset management giants like BlackRock out of the behavior business altogether.

READ: How Vanguard and BlackRock took control of the global economy

A faltering global agenda

The first piece of good news is that the brand of ESG (environmental, social and governance) is so toxic that not even BlackRock’s CEO wants to use it any more.

BlackRock, under the leadership of Larry Fink, has used its immense wealth for years to compel companies to adopt the ESG agenda, becoming the driving force of “woke” capitalism. Yet leveraging financial power to force social and political change in this way has led to a backlash – from the general public, from lawmakers – and from the financial sector itself.

Last December, the North Carolina State Treasurer Dale R. Folwell called for Fink’s resignation, threatening to withdraw over $14 billion in state funds from the investment firm. As The Daily Mail reported, Folwell said:

Fink is in ‘pursuit of a political agenda… A focus on ESG is not a focus on returns and potentially could force us to violate our own fiduciary duty.’

Though his company, BlackRock, has continued to rate businesses on the same criteria, it has removed almost every mention of the term from its communications.

Speaking in Aspen, Colorado, Fink admitted that the decision of Florida Governor Ron DeSantis to withdraw $2 billion in state assets managed by BlackRock had hurt the company. The ESG agenda advanced by BlackRock is so beleaguered, even its former champion will not speak its name.

The power of public opinion

What this shows, as Corbett argues, is a further piece of good news: that public opinion still matters. It is public knowledge of the unelected political meddling of BlackRock and others which has led to outrage – and to action.

As a result of extensive coverage – mainly from independent media – of the nefarious influence of his company, Larry Fink has faced sustained criticism for over a year. This in turn has led to the kind of legal and financial consequences which have made people like Fink think again.

READ: How Larry Fink uses ESG and AI to control the world’s money

This also shows why so much money is invested in propaganda, censorship and “narrative control.” Governments and corporations are afraid of a well-informed public, because such a public is very likely to demand they are held to account.

The case of BlackRock not only shows that what is in your mind can indeed matter, but also that the goliaths of globalism do not always win.

This is one reason for the ongoing information war, and the growing censorship-industrial complex. An informed citizenry has the power to hold the powerful to account. Taken together, public outrage can also move markets – and the money men who watch them.

I investigated some of the claims Corbett made about the financial world’s mounting unease with the involvement of BlackRock, Vanguard and other firms in pushing unelected political and social change. I found more cause for celebration than even Corbett himself would admit at the time.

Passive investments, legal actions

In further good news, mounting legal troubles have accompanied the practice of companies like BlackRock, Vanguard and State Street to leverage their enormous asset piles into social and political compliance engineering.

According to a June 2023 report from RIAbiz, an online journal for registered investment advisers (RIAs), BlackRock and Vanguard’s “fooling around” with ESG targets has left them exposed to prosecution.

The business of managing many assets is supposed to be “passive” – a legal term which means that companies such as BlackRock are prohibited from “exercising control” of the companies whose funds they manage.

Federal exemptions had been granted to these asset management giants, but their habit of forcing behaviors on issues such as carbon “net zero” and “diversity” has placed their capacity to do business in jeopardy.

In May of this year, BlackRock and Vanguard saw a legal challenge emerge, and one which not only deters investors, but may also lead to their being broken up.

As Oisin Breen reported on June 1:

Seventeen AGs moved on May 10 against BlackRock on the grounds that its climate-based activism and its pro-ethical, governance and social (ESG) stance make it an active investor, in breach of a FERC antitrust agreement.

The Federal Energy Regulatory Commission (FERC) is involved due to BlackRock’s – and Vanguard’s – holdings in domestic energy utilities. Breen continues:

Separately, 13 AGs filed a motion to block Vanguard from renewing its FERC exemption. They represent mostly energy-producing states like Texas, as do the 17 now pressing to have BlackRock’s exemption revoked.

Though Breen concluded that both firms had “won a reprieve” from immediate legal censure, the message appears to have been received.

Three months later, Fortune magazine reported:

Finance giants BlackRock and Vanguard – once ESG’s biggest proponents – seem to be reversing course.

Hitting the bottom line

The global business publication noted the legal complications of mixing finance with social, environmental and governance policies, saying:

It appears these strategic shifts are being driven by a combination of public backlash and a focus on their bottom lines.

Then, on October 23, leading U.S. insurance brokerage WTW reported that BlackRock, Vanguard and State Street had all seen significant drops in their total amounts of assets under management (AUM). BlackRock’s alone fell from over 10 trillion dollars to just over 8 trillion.

By October 31, Fortune returned with the verdict that BlackRock, Vanguard and State Street had all “turned against environment and social proposals… in a clear sign of backlash.”

Their report noted a “precipitous” fall in the support of all three asset giants’ commitment to these agendas – with BlackRock’s funding of “ESG” measures falling by over 30 percent from 2021.

Real world consequences

This is the delayed result of a reality which BlackRock themselves acknowledged – and one which drove much of the public disapproval – that the ESG agenda was an economic and social wrecking ball.

Remarkably, BlackRock itself admitted that its promotion of ESG, in the aggressive pursuit of net zero and diversity policies, had actually contributed to a severe economic downturn.

In its “2023 Outlook,” the asset giant said these initiatives had been a major factor in ending the decades-long period of prosperity in the West known as the Great Moderation.

READ: The End of Prosperity? How BlackRock manipulates the West’s economic downturn

Buycotts – not boycotts

In his video Corbett is frank about the limitations of individual consumer power. You cannot “access BlackRock directly,” as it is a management firm. You can, of course, withdraw support from the companies in which it and its fellow behemoths Vanguard and State Street have holdings.

Yet Corbett moves from boycotts of individual corporations to the intriguing concept of “buycotts.” What he means by this is “taking your money from the corporations and using it to build things you want to see.”

How realistic is this solution? Already, businesses are emerging to capitalize on growing public discontent with what is done with their money – without their consent or approval.

Changing our behaviors – for good

The investment platform Reverberate, for example, allows users to “Rate companies highly (over 2.5 stars) if they make your life better, or lower if they make your life worse.”

What is more, user feedback from the public will determine which shares it buys:

Our publicly-traded investment fund buys shares of companies whose average ratings are high and/or rising, and sells shares of those whose average ratings are low and/or falling.

On their website, Reverberate says:

This is our way of trying to align capital allocation with the interests of the general public, as estimated by us in a relatively unbiased, wide-reaching way.

The decline of the asset managers’ ESG agenda is a happy corrective to the damaging belief that nothing can be done about anything.

It shows how well-informed public opinion can lead to genuine change, and with some of Corbett’s insights, how we can move from complaint to constructive action in making a better world.

You can see Corbett’s entertaining case for countering the woke asset management giants here.

Related Topics:#BlackRockCEOLarryFink #FrankWright #HowToDefeatBlackRock #LifeSiteNews #WokeCapitalism

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Rhetoric—not evidence—continues to dominate climate debate and policy

Published on June 18, 2025

Todayville

From the Fraser Institute

By Kenneth P. Green

Myths, fallacies and ideological rhetoric continue to dominate the climate policy discussion, leading to costly and ineffective government policies,
according to a new study published today by the Fraser Institute, an independent, nonpartisan Canadian public policy think-tank.

“When considering climate policies, it’s important to understand what the science and analysis actually show instead of what the climate alarmists believe to be true,” said Kenneth P. Green, Fraser Institute senior fellow and author of Four Climate Fallacies.

The study dispels several myths about climate change and popular—but ineffective—emission reduction policies, specifically:

• Capitalism causes climate change: In fact, according to several environment/climate indices and the Fraser Institute’s annual Economic Freedom of the World Index, the more economically free a country is, the more effective it is at protecting its environment and combatting climate change.

• Even small-emitting countries can do their part to fight climate change: Even if Canada reduced its greenhouse gas emissions to zero, there would be
little to no measurable impact in global emissions, and it distracts people from the main drivers of emissions, which are China, India and the developing
world.

• Vehicle electrification will reduce climate risk and clean the air: Research has shown that while EVs can reduce GHG emissions when powered with
low-GHG energy, they often are not, and further, have offsetting environmental harms, reducing net environmental/climate benefits.

• Carbon capture and storage is a viable strategy to combat climate change: While effective at a small scale, the benefits of carbon capture and
storage to reduce global greenhouse gas emissions on a massive scale are limited and questionable.

“Citizens and their governments around the world need to be guided by scientific evidence when it comes to what climate policies make the most sense,” Green said.

“Unfortunately, the climate policy debate is too often dominated by myths, fallacies and false claims by activists and alarmists, with costly and ineffective results.”

Four Climate Fallacies

This study examines four climate narratives circulating in public discourse regarding climate change.
Fallacy 1: Climate Change Is Caused by Capitalism. As we will observe, this is backward: the more capitalist a country is, the more effective it is at protecting its environment and combatting climate change.
Fallacy 2: Even Small-Emitting Countries Can Do Their Part to Fight Climate Change. Again, in reality, even a casual inspection of the emission trends and projections of large-emitting countries such as China would reveal that for small-emitting countries like Canada, even driving their greenhouse gas emissions to zero would have no measurable impact in reducing climate risk.
Fallacy 3: Vehicle Electrification Will Reduce Climate Risk and Clean the Air. However, when looking beyond the hype, it becomes evident that vehicle electrification presents an array of climate and environmental benefits and harms that extend beyond climate change.
Fallacy 4: Carbon Capture and Storage Is a Viable Strategy to Combat Climate Change. This fallacy, most popular with those in the fossil fuel industry and those of a more market-oriented and politically conservative bent, is no more realistic than the previous three. An examination of the history, effectiveness, and efficiency of carbon capture and storage suggests that it is a far more limited approach to regulating greenhouse gas concentrations in the atmosphere than proponents suggest.

READ THE FULL STUDY

Kenneth P. Green

Senior Fellow, Fraser Institute

Business

Canada’s economic pain could be a blessing in disguise

Published on June 18, 2025

Todayville

This article supplied by Troy Media.

By Roslyn Kunin

Tariffs, inflation, and falling incomes sound bad, but what if they’re forcing us to finally fix what’s broken?

Canada is facing serious economic headwinds—from falling incomes to rising inflation and U.S. trade hostility—but within this turmoil lies an opportunity. If we respond wisely, this crisis could become a turning point, forcing long-overdue reforms and helping us build a stronger, more independent economy.

Rather than reacting out of frustration, we can use these challenges to reassess what’s holding us back and move forward with practical solutions. From
trade policy to labour shortages and energy development, there are encouraging shifts already underway if we stay focused.

A key principle when under pressure is not to make things worse for ourselves. U.S. tariffs on Canadian steel and aluminum, and the chaotic renegotiation of NAFTA/CUSMA, certainly hurt our trade-dependent economy. But retaliatory tariffs don’t work in our favour. Canadian imports make
up a tiny fraction of the U.S. economy, so countermeasures barely register there, while Canadian consumers end up paying more. The federal government’s own countertariffs on items like orange juice and whisky raised costs here without changing American policy.

Fortunately, more Canadians are starting to realize this. Some provinces have reversed bans on U.S. goods. Saskatchewan, for example, recently lifted
restrictions on American alcohol. These decisions reflect a growing recognition that retaliating out of pride often means punishing ourselves.

More constructively, Canada is finally doing what should have happened long ago: diversifying trade. We’ve put too many economic eggs in one
basket, relying on an unpredictable U.S. market. Now, governments and businesses are looking for buyers elsewhere, an essential step toward greater stability.

At the same time, we’re starting to confront domestic barriers that have held us back. For years, it’s been easier for Canadian businesses to trade with the U.S. than to ship goods across provincial borders. These outdated restrictions—whether on wine, trucks or energy—have fractured our internal market. Now, federal and provincial governments are finally taking steps to create a unified national economy.

Labour shortages are another constraint limiting growth. Many Canadian businesses can’t find the skilled workers they need. But here, too, global shifts
are opening doors. The U.S.’s harsh immigration and research policies are pushing talent elsewhere, and Canada is emerging as the preferred alternative.
Scientists, engineers and graduate students, especially in tech and clean energy, are increasingly choosing Canada over the U.S. due to visa uncertainty and political instability. Our universities are already benefiting. If we continue to welcome international students and skilled professionals, we’ll gain a long-term advantage.

Just as global talent is rethinking where to invest their future, Canada has a chance to reassert leadership in one of its foundational industries: energy.
The federal government is now adopting a more balanced climate policy, shifting away from blanket opposition to carbon-based energy and focusing instead on practical innovation. Technologies such as carbon capture and storage are reducing emissions and helping clean up so-called dirty oil. These cleaner energy products are in demand globally.

To seize that opportunity, we need infrastructure: pipelines, refining capacity and delivery systems to get Canadian energy to world markets and across our own country. Projects like the Trans Mountain pipeline expansion, along with east-west grid connections and expanded refining, are critical to reducing dependence on U.S. imports and unlocking Canada’s full potential.

Perhaps the most crucial silver lining of all is a renewed awareness of the value of this country. As we approach July 1, more Canadians are recognizing how fortunate we are. Watching the fragility of democracy in the U.S., and confronting the uncomfortable idea of being reduced to a 51st state, has reminded us that Canada matters. Not just to us, but to the world.

Dr. Roslyn Kunin is a respected Canadian economist known for her extensive work in economic forecasting, public policy, and labour market analysis. She has held various prominent roles, including serving as the regional director for the federal government’s Department of Employment and Immigration in British Columbia and Yukon and as an adjunct professor at the University of British Columbia. Dr. Kunin is also recognized for her contributions to economic development, particularly in Western Canada.

Troy Media empowers Canadian community news outlets by providing independent, insightful analysis and commentary. Our mission is to support local media in helping Canadians stay informed and engaged by delivering reliable content that strengthens community connections and deepens understanding across the country.