BlackRock CEO Larry Fink announced that he was giving up on ESG policies — environmental, social, and governance — at least in name, after a successful pushback by large asset management firms such as BlackRock against efforts to force the adoption woke standards, which would not otherwise be possible through democratic processes.

Fink admitted to Axios that he regretted being affiliated with ESG. Many of these conservative efforts were covered by Townhall, including those of Will Hild and Andy Puzder. He said, “I am ashamed to be part of this discussion.”

Fink claims that he is “nolonger using the term ‘ESG’ (environment social and governance), because it has been politically ‘weaponized. Fink and BlackRock have lost the ESG battle spectacularly and are now giving up the acronym. However, attempts to use the power of their position to achieve leftist goals will continue under another banner that is not yet associated with being woke at the expense of shareholders.

Fink made his comments at the Aspen Ideas Festival. He admitted that “Florida Governor. Ron DeSantis pulling $2 billion of assets hurt BlackRock.

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Fink, in a bizarre turn of events, tried to change his mind about ESG.

He said incorrectly, “I never stated I was ashamed.” “I am not ashamed. “I do believe in conscience capitalism.”

He added, “I won’t use the term ESG as it has been misunderstood by both the extreme left and right.”

Fink has replaced “ESG” with “conscientious capitalism” as his new label. He will use shareholder power, and the trillions of dollars in assets he manages, to force adherence to a leftist ideology, which includes, amongst other radical policies and demands, literally impossible “net zero” standards.