Forwarded from MessageInABottle
#Texas was the first #US state to ban #BlackRock from doing business with the state.
#Florida has now followed suit.
Texas Governor Greg Abbott signed a law in 2021 to ban financial companies, including BlackRock and several other financial companies, that have #ESG policies that discriminate against the #oil & #gas sector.
FLORIDA PULLS $2 BLN FROM BLACKROCK IN LARGEST ANTI-ESG DIVESTMENT PUSHBACK
#Florida's chief financial officer said on Thursday his department would pull $2 billion worth of its assets managed by BlackRock Inc.
The move is the biggest such divestment by a US state opposed to the asset manager's environmental, social and corporate governance (ESG) policies.
The move will hardly dent BlackRock's $8 trillion in assets but drew a strong response from the company, which said the action put politics over investor interests.
#Florida has now followed suit.
Texas Governor Greg Abbott signed a law in 2021 to ban financial companies, including BlackRock and several other financial companies, that have #ESG policies that discriminate against the #oil & #gas sector.
FLORIDA PULLS $2 BLN FROM BLACKROCK IN LARGEST ANTI-ESG DIVESTMENT PUSHBACK
#Florida's chief financial officer said on Thursday his department would pull $2 billion worth of its assets managed by BlackRock Inc.
The move is the biggest such divestment by a US state opposed to the asset manager's environmental, social and corporate governance (ESG) policies.
The move will hardly dent BlackRock's $8 trillion in assets but drew a strong response from the company, which said the action put politics over investor interests.
Reuters
Florida pulls $2 bln from BlackRock in largest anti-ESG divestment
Florida's chief financial officer said on Thursday his department would pull $2 billion worth of its assets managed by BlackRock Inc , the biggest such divestment by a state opposed to the asset manager's environmental, social and corporate governance (ESG)…