BlackRock drops DEI references from annual report
Published On Feb 26, 2025, 11:59 AM
BlackRock, the world's largest asset manager, has dropped references to its diversity, equity, and inclusion (DEI) policies in its latest annual report. Previously, CEO Larry Fink had been a supporter of DEI initiatives, stating that they were crucial for attracting talent and maintaining a competitive edge. The omission of DEI references comes amidst a broader trend among companies to reduce the focus on such initiatives in light of political and legal pressures. This shift aligns with the recent executive order from former President Donald Trump aimed at scrutinizing corporate DEI programs.
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The removal of DEI references could indicate a strategic shift in BlackRock's approach amidst changing political and public sentiment. This may lead to a realignment of its branding and investment strategies, particularly as it seeks to reassure stakeholders concerned about regulatory scrutiny and potential backlash related to social governance issues.
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