ESG & Investing
BlackRock Faces More ESG Fallout as Louisiana Pulls $794 Million
- State treasurer cites ‘blatantly anti-fossil fuel policies’
- Asset manager faces a continuing backlash from GOP officials
BlackRock Inc. headquarters in New York.
Photographer: Bess Adler/BloombergThis article is for subscribers only.
Louisiana is pulling $794 million from BlackRock Inc. funds, saying the asset-management giant’s views on ESG investing are damaging to the state’s energy industry.
“Your blatantly anti-fossil fuel policies would destroy Louisiana’s economy,” Louisiana Treasurer John Schroder said in a letter Wednesday to BlackRock Chief Executive Officer Larry Fink. “Simply put, we cannot be party to the crippling of our own economy.”