Florida is the latest state to announce that it is pulling funds from investment giant BlackRock over the firm's environmental, social and governance push.
SEC commissioner Hester Peirce discusses the idea of ‘woke’ investing and how BlackRock is pushing back on the GOP, on ‘Fox Business Tonight.’, becoming the latest state to pull assets from the firm over its environment, social, and governance policies.
Florida Chief Financial Officer Jimmy Patronis speaks before introducing Florida Gov. Ron DeSantis during a rally for Florida Republicans at the Cheyenne Saloon on November 7, 2022, in Orlando, Florida. "Whether stakeholder capitalism, or ESG standards, are being pushed by BlackRock for ideological reasons, or to develop social credit ratings, the effect is to avoid dealing with the messiness of democracy," Patronis said in a separate statement. "I think it’s undemocratic of major asset managers to use their power to influence societal outcomes.
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State pulls money from BlackRock over ‘ESG'“Run for office,' Patronis said. 'Start a non-profit. Donate to the causes you care about. Using our cash, however, to fund BlackRock’s social-engineering project isn’t something Florida ever signed up for.”
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