Missouri is following other Republican-led states to depart from the investment firm.
QUICK FACTS:
- The state of Missouri is pulling roughly $500 million out of pension funds managed by BlackRock Inc., the nation’s largest investing firm.
- State treasurer Scott Fitzpatrick cited the asset management company’s Environmental Social Governance (ESG) priorities when announcing the withdrawal.
- According to Fitzpatrick, the woke company is more concerned about ESG than they are shareholder returns.
- Last week, BlackRock’s Chief Executive Officer Larry Fink defended the company’s investment decisions saying they are “being attacked equally by the left and the right so I’m doing something right.”
OTHER STATE DEPARTURES:
- Thus far, state treasures from Louisiana, South Carolina, Utah, and Arkansas have announced they’ll be withdrawing a cumulative $1 billion in funds from BlackRock.
- South Carolina State Treasurer Curtis Loftis told journalists he was pulling $200 million of its holdings from BlackRock by the end of this year over the company’s “leftist worldview.”
- Utah State Treasurer Marlo Oaks and Arkansas’ Dennis Milligan are reportedly removing $100 million and $125 million, respectively.
- Texas Comptroller Glenn Hegar also weighed in, slamming BlackRock for allegedly “boycotting energy companies” that do not push its “climate change” ESG agenda.
BACKGROUND:
- Louisiana cited economic and political concerns as their treasure said the company’s “blatantly anti-fossil fuel policies” would “destroy Louisiana’s economy,” American Faith previously reported.
- BlackRock is an official partner of the ‘Great Reset’-advancing World Economic Forum (WEF). The financial asset manager’s CEO, Lary Fink, is a WEF board member.
