BlackRock drops DEI references from annual report

Core Insights - BlackRock has removed references to its diversity, equity, and inclusion (DEI) strategy from its latest annual report, marking a significant shift from previous editions where such policies were emphasized [1][3][6] - The 2023 annual report previously highlighted DEI as a commercial imperative, stating that a diverse workforce is essential for attracting and retaining top talent [2][5] - The omission of gender and racial demographics in the latest report indicates a change in focus, with only geographic breakdowns included [3][5] Company Strategy - BlackRock's previous DEI strategy was aligned with its business priorities and long-term objectives, emphasizing the importance of a connected and inclusive culture [3][5] - The firm has stated that delivering for clients requires attracting the best talent globally, and it is committed to fostering diverse perspectives to avoid groupthink [5] Political and Legal Context - DEI policies have faced political controversy, with critics arguing they detract from meritocracy, leading to legal challenges that have prompted companies to reconsider their DEI goals [6] - Recent executive orders and court rulings have influenced the landscape of corporate DEI programs, with federal scrutiny increasing [6][7]