BlackRock boss Larry Fink says he is going to stop using the term ESG, which stands for environmental, social, and corporate governance. The term and the idea of ESG have become more controversial recently, as seen with boycotts.
BlackRock had lost about $4 billion in managed assets as a result of the backlash against ESG. It’s a fraction of the $9 trillion that is under its management.
U.S. stock indexes rebounded on Tuesday from a recent bout of losses, as upbeat economic data soothed investor worries about a recession.
Reports showed new orders for key U.S.-manufactured capital goods unexpectedly rose in May, and sales of new single-family homes surged in the same month.
