Financial Digest

Texas Fund Manager BlackRock 'Misusing Funds' to Push ESG Agenda

  • 📰 OilandEnergy
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 68%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

Texas pulled $8.5 billion from BlackRock, accusing the investment manager of harming the state's oil and gas industry through ESG policies.

The examples of the ESG fraud imploding over the last 6 months simply aren't stopping. The latest has come from Texas, where the state is now terminating an $8.5 billion investment with BlackRock due to the investment manager's boycott of energy companies, according to a report from Fox News. Texas State Board of Education Chairman Aaron Kinsey said this week that the Texas Permanent School Fund notified BlackRock this week that it would be terminating the investment.

Following this, Texas Comptroller Glenn Hegar updated this list in October to include BlackRock among others, urging the Texas PSF and five state pension funds to cut off from the investment company. Kinsey concluded 'Today represents a major step forward for the Texas PSF and our state as a whole. The PSF will not stand idle as our financial future is attacked by Wall Street.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 34. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

70% of Passive ESG Funds Are Exposed to New Oil and Gas ProjectsAccording to a new report by Reclaim Finance, 70% of passive funds passed off as sustainable are exposed to new oil and gas projects.
Source: OilandEnergy - 🏆 34. / 68 Read more »