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"Texas School Fund's $8.5 Billion Divestment Signals BlackRock's ESG Limits"

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Source: Washington Examiner
"Texas School Fund's $8.5 Billion Divestment Signals BlackRock's ESG Limits"
Photo: Washington Examiner
TL;DR

Texas is withdrawing $8.5 billion from BlackRock due to the firm's environmental, social, and governance (ESG) policies, making it the largest such divestment. The move is in line with the state's anti-ESG law, which prohibits investments in companies that boycott energy firms. BlackRock argues that its investments benefit Texas, but Republican officials view the firm's ESG approach as detrimental to the state's oil and gas industry. This divestment reflects a broader backlash against ESG and "woke" corporate practices, with other Republican-led states also targeting BlackRock through divestments.

Topics:businessfinancepolitics#blackrock#divestment#esg#financepolitics#republican-states#texas
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  1. Texas withdraws $8.5 billion from BlackRock over ESG in biggest such divestment  Washington Examiner
  2. Texas Permanent School Fund withdraws $8.5 billion BlackRock investment  Austin American-Statesman
  3. Texas Pulls $8.5 Billion From BlackRock Over ESG Investing  ESG Today
  4. BlackRock Ditched by Texas Fund Shows Limits of Fink Persuasion  Bloomberg
  5. Texas schools fund pulls $8.5 billion from BlackRock over ESG investing  Reuters

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