Such firms control a huge portion of the world’s wealth. Instead of using that power to solve climate change, they’re blocking progress and profiting off inequality.

Archive link unshareable because it contains a slur in 1337 speak lol

The “Big Three” of BlackRock, Vanguard, and State Street own more than 20 percent of shares in the average publicly traded S&P500 company and are also big players in private equity.

These companies have quietly taken up a central role in our economic and political life. The Big Three cast more than 25 percent of votes at corporate shareholder meetings, meaning they “exercise something akin to state authority over the largest corporations that account for the vast bulk of economic activity in … the world economy,” as investment strategy analyst Anusar Farooqui put it last year.

Interesting stuff!