Blasting BlackRock’s promotion of green energy as an economy killer, Louisiana Treasurer John Schroder informed CEO Larry Fink that the state planned to liquidate the company’s investments and divest nearly $800 million from its money market, mutual and exchange-traded funds.
“Your blatantly anti-fossil fuel policies would destroy Louisiana’s economy,” Schroder wrote to Fink in the letter first obtained by FOX Business.
“This divestment is necessary to protect Louisiana from actions and policies that would actively seek to hamstring our fossil fuel sector,” Shroder said.
The treasurer said BlackRock’s investment in ESG – environmental, social and governance – “is inconsistent with the best economic interests and values of Louisiana.”
“I cannot support an institution that would deny our state the benefit of one of its most robust assets,” he continued.
“Simply put, we cannot be party to the crippling of our own economy.”
Ultimately, he said, BlackRock will “take food off tables, money out of pockets and jobs away from hardworking Louisianans.”
WND is now on Trump’s Truth Social! Follow us @WNDNews
Oil is Louisiana’s largest sector, drilling the second-most oil and third-most natural gas in the nation, according to the Energy Information Administration.
The primary objective of the ESG movement is push companies to a “net-zero” transition from oil to alternatives such as wind and solar.
But Will Hild, the executive director of Consumer’s Research, told FOX Business “the seeds of today’s energy crisis were planted by BlackRock and others in their reckless abandonment of their fiduciary duty to cozy up to radical, woke politicians.”
“We are glad to see the Treasurer working to put an end to their economic vandalism.”
West Virginia led the way, in July, in punishing banks that pursue ESG standards. And, along with Louisiana, 11 other states told FOX Business are planning to take similar actions.
Asked for comment, BlackRock pointed FOX Business to a letter it sent to 19 Republican attorneys general Sept. 7.
“We are disturbed by the emerging trend of political initiatives that sacrifice pension plans’ access to high-quality investments – and thereby jeopardize pensioners’ financial returns,” the firm wrote to the state officials on Sept. 7.
EDITOR’S NOTE: With what has been called the “Sovietization” of the Biden administration – including the shocking criminalization of dissent and massive weaponization of the FBI against political opponents – America is being increasingly compared to a third-world or communist dictatorship. Yet America still has one sacred institution that dictatorships from Zimbabwe to communist China don’t have: ELECTIONS. And in reality, there is no reason, despite the regime’s all-out efforts at election rigging, that the tens of millions of decent, right-thinking American voters cannot stop the Biden administration’s ever-expanding madness this November. For that reason, the September issue of WND’s critically acclaimed monthly Whistleblower magazine insightfully covers the most electrifying and important races, illuminates the biggest issues, reveals how the latest federal takeover of elections actually violates the law, and much more. Looking forward to 2024, the issue also highlights why, to quote the chairman of a major think tank, Donald Trump “is the most towering political figure in living memory” and the person “most fit to lead” today’s America. It’s all in “STOPPING THE MADNESS: A MIDTERM ELECTION GUIDE FOR VOTERS WHO LOVE AMERICA.”
For 25 years, WND has boldly brought you the news that really matters. If you appreciate our Christian journalists and their uniquely truthful reporting and analysis, please help us by becoming a WND Insider!
Content created by the WND News Center is available for re-publication without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact [email protected].
SUPPORT TRUTHFUL JOURNALISM. MAKE A DONATION TO THE NONPROFIT WND NEWS CENTER. THANK YOU!
This article was originally published by the WND News Center.