Posted on 10/06/2022 10:07:39 AM PDT by DFG
Louisiana State Treasurer John Schroder announced on Wednesday that the Pelican State will withdraw $794 million in treasury funds from BlackRock over its ESG green energy activism.
Schroder announced that $560 million had already been removed from BlackRock and $794 million will be removed from the world’s largest asset manager by the end of 2022.
“This divestment is necessary to protect Louisiana from mandates BlackRock has called for that would cripple our critical energy sector,” Schroder said in a statement. “I refuse to spend a penny of Treasury funds with a company that will take food off tables, money out of pockets and jobs away from hardworking Louisianans.”
Schroder serves as the incoming chair of the national State Financial Officers Foundation. He explained that his action was in response to BlackRock’s embrace of “net zero” Energy, Social, and Governance (ESG) investment strategies that would harm the oil and natural gas industry. Louisiana is a large producer of oil.
Further, he said his decision arose after a meeting with BlackRock representatives, whose statements contradicted BlackRock CEO Larry Fink’s public statements.
Schroder said in his letter to Fink that BlackRock fails to meet the company’s fiduciary duty to investors.
(Excerpt) Read more at breitbart.com ...
And hopefully start a ball rolling with all the other red states.
No reason to donate to the enemy.
The ESG stuff is what communism is made out of. Absolutely ridiculous mandates and demands.
The Red States are operationally colonies of the Blue States.
There is a vast flow of money from the productive regions of our country to cities like New York and DC.
Good on LA for asserting its independence.
Everyone invested in these monsters need to withdraw and invest with people who are just committed to making money.
Blackrock is the communist/globalist enemy for sure. Also Vanguard and State Street. People should let them know why they are moving their investments. Company IRA and 401K plans? Make their stock comments on-line toxic until they change to a free-market investment company. Remember that the company officers making these decisions have names and they have addresses. They should not get better treatment than Supreme Court justices.
ESG really means corporate fiduciary negligence.
Are there any online tools that we can use to see if a fund we own is part of this crap ?
Turdeau is far into the ESG garbage. It is stunning how intrusive and controlling this is.
For example, my farmer son-in-law and daughter are going to be required to figure out their ESG score, which measures to what degree you comply with their insane green restrictions. This will be considered when renewing financing, purchasing equipment, etc. If that’s not nuts enough, whenever he goes to purchase ANYTHING related to the farm, HIS SUPPLIERS ARE THEN REQUIRED TO GET HIS ESG SCORE before they’re allowed to sell to him!!
So the feds are forcing the suppliers/service people to be their enforcing squads. If my SIL wants to have the hay cut, he just texts his friend of many years who operates that business, and lets him know his field is ready for cutting. Under ESG, the friend is now legally required to get my SIL’s ESG score before he can cut his hay! Not only is this uber gestapo, it will cause so much angst in the farming community.
So far I’m not sure how much is being enforced, but this is the goal.
That sounds like the stuff that creates black markets.
The big fund companies pushing this are Blackrock, Vanguard and State Street. There may be more jumping on the Xao Bi-Dung bandwagon, but this is a start.
It’s a start.
Oh, I forgot to mention....IF the ESG score is below what they want, the service person/supplier is NOT ALLOWED TO sell or service him!!! So if they want to stay in business, they have to lie about the ESG score, or work under the table...both options being risky.
A lot of blue state taxes get spent in red states. No hands are clean here.
In the old USSR, black market activity could get you the death penalty. People did it anyway. You can, too.
So what, people/entities ought to be free to spend their money wherever they choose.
If Blackrock wants to screw with their funds, go for it. Others can help take em down for that too!
The only unclean hands are the ones who are forcing communist type edicts on their customers/citizenry.
We have no choice. The farm is one of their number one targets for elimination. Mostly sheep, some pigs. Meat - bad. They’re out to put us under. I loathe them.
The people pushing this should have a Personal Liberty Score (PLS) placed on their heads. Two can play this game.
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