Several Republican states removed almost $4.5 billion dollars from BlackRock due to the company’s adherence to environmental, social, and corporate governance (ESG) policies. “What we’re trying to do is ensure that we’re being good stewards of taxpayer dollars and that we don’t have a conflict of interest,” West Virginia State Treasurer Riley Moore said.
From Daily Caller:
Republican South Carolina State Treasurer Curtis Loftus began pulling $200 million from BlackRock on Oct. 10 and Republican Louisiana State Treasurer John Schroder said on Oct. 5 that he would divest $794 million from the company by the end of 2022. GOP Utah treasurer Marlo Oaks also removed $1oo million in state funds from BlackRock’s control in September and Republican Arkansas State Treasurer Dennis Milligan pulled $125 million in funds from the company in May, according to the Financial Times. Republican Arizona State Treasurer Kimberly Yee revealed on Dec. 8 that her state had removed $543 million worth of pension funds from BlackRock’s control throughout 2022. Yee stated that the asset manager was not acting in the financial interests of the state as it pushing “wokeism” and forcing businesses to follow BlackRock CEO Larry Fink’s political beliefs. GOP Missouri Treasurer Scott Fitzpatrick declared in October that Missouri’s pension system had taken $500 million out of BlackRock’s hands because the firm had chosen to force a “left-wing social and political agenda” on publicly traded companies.
