Oklahoma Treasurer Todd Russ warned investment companies that they would lose access to state funds in two months if they fail to prove they are not involved in the environmental, social, and corporate governance movement, also known as ESG.
Resistance to environmental, social, and corporate governance investing is taking center stage in a number of Republican-leaning state legislative sessions this year.
“When companies boycott fossil fuels, they intentionally choke off the lifeblood of capital to Kentucky’s signature industries,” Treasurer Ball said. “Traditional energy sources fuel our Kentucky economy, provide much needed jobs, and warm our homes. Kentucky must not allow our signature industries to be irreparably damaged based upon the ideological whims of a select few.”
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.
School boards and the NBA have joined an annual top 10 list of “worst of the woke” institutions that displayed intolerance in the name of tolerance the past year.
Several US states divest approximately $11.7 billion from BlackRock due to concerns about the company's commitment to ESG principles, which may present obstacles to state pension funds and expose investors to risks.
