Reuters reports:
Florida’s Chief Financial Officer said on Thursday his department would pull $2 billion worth of its assets managed by BlackRock Inc, the biggest such divestment by a state opposed to the asset manager’s environmental, social and corporate governance (ESG) policies.
The move will hardly dent BlackRock’s $8 trillion in assets and drew a strong response from the company, which said the action put politics over investor interests.
Nonetheless it underscores how a backlash among many Republican leaders, such as those in Florida, against ESG investing, which they see as promoting a “woke agenda” is gathering steam.
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Florida pulls $2 bln from BlackRock in largest anti-ESG divestment https://t.co/gLGBCcFqTB pic.twitter.com/lSOaoLi8gP
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