Investment management company BlackRock admitted in its annual filing to the Securities and Exchanges Commission that CEO Larry Fink’s environmental, social, and governance policies (ESG) advocacy could harm its reputation and hurt its bottom line.

"BlackRock’s business, scale and investments subject it to significant media coverage and increasing attention from a broad range of stakeholders," the filing submitted late last month said. "This heightened scrutiny has resulted in negative publicity and adverse actions for BlackRock and may continue to do so in the future." READ MORE