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2024-03-21 -Great Cultural Revolution
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Texas State Board of Education Blackballs BlackRock
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[TowhnHall] As state leaders continue to recognize and take action to mitigate investment risk caused by woke ESG — environmental, social and governance — policies, the Texas State Board of Education has delivered a significant blow to the world's largest asset manager, BlackRock, due to its embrace and prioritization of "green" energy (read: anything but green) and attempts to force a transition to a "net-zero" carbon emission economy.
Led by Chairman Aaron Kinsey, the Texas State Board of Education found that BlackRock was not in compliance with a provision in Texas state code that prohibits state investment in companies that boycott energy companies, a practice that Kinsey found BlackRock's emphasis on ESG has created.
As a result, the Permanent School Fund (PSF) took action on Tuesday, notifying BlackRock that it was divesting a whopping $8.5 billion from the firm — the largest single divestment from BlackRock since state leaders began rejecting asset management firms with values that run opposite their states' priorities.
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Posted by Bobby 2024-03-21 00:00||
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File under: Commies
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