Pensions Flex Power

What’s the deal? Pensions, representing $1 Trillion in assets, have asked investors, BlackRock, to disclose political activities because of the Jan. 6th criminal acts at the U.S. Capitol. BlackRock gave $85,000 to 15 legislators who deny the results of the 2020 presidential​ ​election after the invasion of the US Capitol​.

Why should we care? Public pensions have been impacting ESG, divesting from assets that link to fossil fuel or bad actors, and now want more transparency in political activities from asset managers. The pensions say pausing political contributions to these politicians isn’t enough.

Why does this matter to me? Represent someone or some entity? Being a bad actor or seeming to support these bad actors does not align with the new economy. It is bad for investors when officials have rhetoric that destabilizes democracy. People are watching if you’re a bully who rocks the boat.

Washington Post | Pension funds demand BlackRock disclose its political activity in the wake of U.S. Capitol riots