Culture Wars/Current Controversies

Republicans see little resistance from the business lobby after ‘anti-woke’ attacks

Giant asset managers are finding few friends in Washington as GOP lawmakers attack them for their climate and social agendas.

Climate rally in D.C.

Republican lawmakers are vowing to crack down on big investment managers pushing climate and social agendas. But the Wall Street giants are finding they have few defenders in Washington to help fend off the assault.

The multitrillion-dollar asset managers — primarily BlackRock and its outspoken CEO Larry Fink, Vanguard and State Street — aren’t getting cover from major business trade groups whose members are divided on the issue. And they have no Republican allies, according to interviews with nearly a dozen industry representatives, lawmakers and climate advocates.

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