@yon :blobfoxsignno:
The 'trust' idea that you're referring to, is conspiracy theory. Which is why the internet sucks, as it occupies the top search and forums so often as though it's truth. They're a scapegoat of who the real enemies are, the MBA board members, and Private Equity. The banks are in the pocket of big players and private equity, that's how Musk bought :deadbird:
BlackRock, Vanguard and Berkshire Hathaway etc together do control 60% of those shares altogether. It is also true that BlackRock did ask companies to disclose their ESG data, but this was with the goal to provide more visible metrics for potential buyers to analyze from. It's also true that BlackRock's CEO is a privileged asshole that makes lots of stupid remarks, but he doesn't drive BlackRock, the algorithms do.
The fund managers that do eventually vote based on the percentage of their shareholders, which are people like me. Which won't move any needles at all because it's guaranteed to be chaos. They don't use their votes to pursue agenda, it's they must follow their customers' instructions.
It's private equity that moves in the same direction and use their money to influence votes.
The right literally scapegoated them to deflect blame from the real 'evil corporations'
https://www.economist.com/1843/2023/07/27/the-demonisation-of-blackrocks-larry-fink
