Thursday, October 6, 2022

BlackRock divestment

NEWS

Louisiana is divesting state treasury funds from the controversial investment company BlackRock.

In a letter to BlackRock chairman and CEO Larry Fink, Louisiana state Treasurer John Schroder, a Republican, noted that $560 million has already been divested and eventually $794 million will have been yanked out of BlackRock.

"Your blatantly anti-fossil fuel policies would destroy Louisiana's economy," Schroder wrote. "Therefore, Louisiana Treasury will liquidate all BlackRock investments by the end of 2022. To date we have divested $560 million," he noted. "Once complete, this divestment will reflect $794 million no longer entangled in BlackRock money market funds, mutual funds or exchange-traded funds (ETFs) holdings."

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