Will BlackRock divest from Kakao over ESG issues?

The Korea Times | Feb 22, 2021 at 8:26 AM
  • By Park Jae-hyuk BlackRock appears to be falling into a dilemma over its strategy to prioritize environmental, social and corporate governance (ESG) criteria after Kakao sparked severe public criticism for an alleged workplace bullying incident.
  • The U.S. asset management firm’s decision was interpreted as a recognition of the Kakao chairman’s “ambitious plan” to donate half of his wealth and the company’s establishment of an ESG committee for transparent corporate governance.
  • It is true that the asset manager has focused more on environmental factors than social factors to emphasize the importance of the fight against climate change.