BlackRock sharply increased its spending on lobbying in the US last year as the world’s largest asset manager came under attack over its use of environmental, social and governance (ESG) factors in investing.
BlackRock disclosed spending $2.38mn in 2022 on federal lobbying, up 63 per cent from 2021. Within that, it more than doubled the amount of money it paid to high-powered lobbying companies to $1.2mn.
State lobbying registers show that the company also added five registered lobbyists in Texas and two in Florida, up from none in either state in 2020.
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