Vanguard Leaves international net zero alliance GFANZ
Covered in more detail here.
BlackRock was subpoenaed by the state of Texas regarding illegal ESG activity.
The Texas state legislature subpoenaed BlackRock for a series of documents related to the billion-dollar financial institution’s environmental, social and governance (ESG) policy push.
The subpoena, issued late last month by the Texas Senate Committee on State Affairs, represents the latest effort from the Republican-led state to slow the so-called ESG movement. Massive asset managers like BlackRock, Vanguard and State Street have increasingly pushed ESG standards upon companies in which they hold large financial stakes in an effort to push a broad green transition from traditional fossil fuel energy sources to alternatives like wind and solar.
US States divesting from BlackRock over ESG
“Using our cash to fund BlackRock’s social-engineering project isn’t something Florida ever signed up for,” Patronis said in a released statement, “It’s got nothing to do with maximizing returns and is the opposite of what an asset manager is paid to do.” Accordingly, Florida will immediately remove $600 million in short-term investments from BlackRock and freeze another $1.43 billion in long-term securities, pending their reassignment to new management in early 2023.
Florida (two billion!)
Missouri
South Carolina
Utah
Louisiana
Arkansas
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