Florida pulls $2 bln from BlackRock in largest anti-ESG divestment [Reuters]
BlackRock, Inc. (BLK)
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Source: Reuters
Dec 1 (Reuters) - Florida's Chief Financial Officer said on Thursday his department would pull $2 billion worth of its assets managed by BlackRock Inc (BLK.N) , the biggest such divestment by a state opposed to the asset manager's environmental, social and corporate governance (ESG) policies. While the move will hardly dent BlackRock's $8 trillion in assets, it underscores how the backlash among many Republican politicians, such as those in Florida, against ESG investing, which they see as promoting a "woke agenda" is gathering steam. Republicans are set to assume control of the House of Representatives in January. This will allow them to hold hearings on ESG and grill the chief executives of BlackRock and other major assets managers about their ESG policies, and also pressure regulators to scrutinize them. In a statement, Florida CFO Jimmy Patronis said the state's Treasury, which he oversees, would remove BlackRock as manager of about $600 million of short-term investments an
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