[9] The U.S. states of West Virginia,[10] Florida,[11] and Louisiana[12] have divested money away from or refuse to do business with the firm because of its ESG policies.

BlackRock has been criticized for investing in companies that are involved in fossil fuels, the arms industry, the People's Liberation Army and human rights violations in China.

[16] In exchange for a 50% stake in the bond business, Blackstone initially gave Fink and his team a $5 million credit line.

[31][32] The Federal Reserve allowed BlackRock to superintend the $130 billion-debt settlement of Bear Stearns and American International Group.

[33][48][49] This also included the $500 billion Primary Market Corporate Credit Facility (PMCCF) and the Secondary Market Corporate Credit Facility (SMCCF), as well as purchase by the Federal Reserve of commercial mortgage-backed securities (CMBS) guaranteed by Government National Mortgage Association, Fannie Mae, or Freddie Mac.

[33][48][49] In August 2020, BlackRock received approval from the China Securities Regulatory Commission to set up a mutual fund business in the country.

The firm maintains a dedicated India Fund, through which it invests in Indian start-ups Byju's, Paytm, and Pine Labs.

[61] Nasser, the Chief Executive Officer of Saudi Aramco, the world's largest oil company, will fill Blackrock's board vacancy left by Bader Alsaad in 2024.

[62] In August 2023, BlackRock signed an agreement with New Zealand to establish a NZ$2 billion investment fund for solar, wind, green hydrogen, battery storage, and EV charging projects as part of its goal of reaching 100% renewable energy by 2030.

[65][66][67] BlackRock agreed to pay $3 billion in cash and 12 million of its own shares as part of the deal to buy GIP.

[68] On July 15, 2024, BlackRock removed from circulation an advertisement filmed in 2022 that briefly featured Thomas Matthew Crooks, the gunman in the attempted assassination of Donald Trump.

Representatives Katie Porter and Jesús "Chuy" García proposed a U.S. House bill aiming to restrain BlackRock and other shadow banks.

[108][109][110][111][112][excessive citations] BlackRock started drawing attention to environmental and diversity issues by means of official letters to CEOs and shareholder votes together with activist investors or investor networks such as the Carbon Disclosure Project, which in 2017 backed a shareholder resolution for ExxonMobil to act on climate change.

The editorial board opined that "ESG mandates, which also carry substantial litigation and reputation risks, will cause many companies to shun public markets.

"[118] In January 2022, BlackRock founder and CEO Larry Fink defended the company's focus on ESG investing, pushing back "against accusations the asset manager was using its heft and influence to support a politically correct or progressive agenda.

[124] As of December 2018, BlackRock was the world's largest investor in coal-fired power stations, holding shares worth $11 billion in 56 companies in the industry.

[130] On January 10, 2020, a group of climate activists rushed inside the Paris offices of BlackRock France, painting walls and floors with warnings and accusations on the responsibility of the company in the effects of global warming.

[131] In May 2019, BlackRock was criticized for the environmental impact of its holdings as it was a major shareholder in every oil supermajor except Total S.A. and in 7 of the 10 biggest coal producers.

[133] BlackRock announced that it would sell $500 million worth of coal-related assets, and created funds that would not invest in companies profiting from fossil fuels.

[136][137] According to The New Republic, BlackRock "has positioned itself as the good guy on Wall Street, and its executives as a crew of mild-mannered money managers who understand the risks of the climate crisis and the importance of diversity.

The study showed that companies who met with BlackRock’s CEO Larry Fink had lower CO2 emissions the following year.

[140] After discussions with firearms manufacturers and distributors, on April 5, 2018, BlackRock introduced two new exchange-traded funds (ETFs) that exclude stocks of gun makers and large gun retailers such as Walmart, Dick's Sporting Goods, Kroger, Sturm Ruger, American Outdoor Brands, and Vista Outdoor, and removed the stocks from seven existing ESG funds.

BlackRock became the first foreign-owned company allowed by the Chinese government to operate a wholly-owned business in China's mutual fund industry.

[151][152][153] Writing in The Wall Street Journal, George Soros described BlackRock's initiative in China as a "tragic mistake" that would "damage the national security interests of the U.S. and other democracies.

"[154][155][156] In October 2021, conservative non-profit group Consumers' Research launched an ad campaign criticizing BlackRock's relationship with the Chinese government in response to BlackRock's climate change activism,[157] as part of Consumers' Research's campaign against perceived "wokeness" in American corporations.

[158] In December 2021, it was reported that BlackRock was an investor in two companies that had been blacklisted by the US government accusing China of human rights abuses against the Uyghurs in Xinjiang.

[163] In February 2025, a group of 17 U.S. state attorneys general criticized BlackRock for making improper or inadequate disclosures about investments in China.

[164] BlackRock was scrutinized for allegedly taking advantage of its close ties with the Federal Reserve during the COVID-19 pandemic response efforts.

[165][166][167] In June 2020, The New Republic wrote that BlackRock "was having a very good pandemic" and was casting "itself as socially responsible while contributing to the climate catastrophe, evading regulatory scrutiny, and angling to influence [a potential] Biden administration.

The New York Times wrote about the contract that BlackRock "will earn no more than $7.75 million per year for the main bond portfolio it will manage.