Group 1 - BlackRock, the world's largest asset management company, warns that both the Democratic and Republican parties are pressuring asset management firms to align retirement fund investments with political demands, posing risks to public pensions [1] - The trend of politicizing public pension management is concerning, as stated by S. Jane Moffat, BlackRock's head of state and local government affairs and public policy, indicating that ultimately, savers and retirees will bear the costs [1] - Over 40 officials from both parties have made opposing demands on asset management firms, with Democrats urging consideration of long-term impacts of climate change in investment decisions, while Republicans emphasize prioritizing financial returns and opposing speculative predictions related to environmental issues [1] Group 2 - BlackRock's CEO Larry Fink announced the discontinuation of the term "ESG" and scaled back certain green initiatives, including exiting the Net Zero Asset Managers alliance and reducing participation in the Climate Action 100+ initiative [2] - These adjustments have helped BlackRock remove itself from Texas's "blacklist," which previously labeled the firm as "suspected of boycotting fossil fuels," thus resolving a three-year business predicament in the state [2]