BlackRock Warns Texas Decision Is ‘Bad for the Business Climate’
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A senior BlackRock Inc. executive blasted a finding by Texas officials that the firm boycotts the fossil-fuel sector, saying the decision risks damaging the state’s reputation in the business community.
The world’s largest asset manager was the sole US-based firm included on a list of 10 companies this week that allegedly shun oil and gas, a designation that could wind up costing BlackRock deals within the Lone Star State. BlackRock quickly disputed the declaration, and in an interview Thursday, the head of its US business said the review was faulty and “bad for the business climate.”