BLACKROCK, held several million shares in Hong Seng, but real impact is when Blackrock walks, others tend to follow.
THE sell offs ⁷ were made in the current quarter, leaving Blackrock with zero shares in Hong Seng.
BLACKROCK, which manages assets values at US$3.37 quadrillion READ : which is much more than US$83 trillion the world has , has a very low tolerance level with companies that do not practise the ESG framework in their business dealings.
VANGUARD, the UK based fund which still has about 10 million shares is expected to follow suit, as Blackrock owns some 15 per cent of the British asset manager.
ALSO, the Vanguard funds in Hong Seng are parked under the Vanguard ESG emerging market fund, which could be very embarrassing for the British if they.are latter exposed for READ : GREENWASHING
