State of Florida Removes $2 Billion from BlackRock In Anti-ESG Divestment-“Using Our Cash to Fund BlackRock’s Social-Engineering Project N

Environmental, social and governance (ESG) investing is a favored strategy by woke companies focused on making the world “a better place.”

Forbes describes the criteria for the ESG strategy as:

Environment. What kind of impact does a company have on the environment? This can include a company’s carbon footprint, toxic chemicals involved in its manufacturing processes and sustainability efforts that make up its supply chain.

Social. How does the company improve its social impact, both within the company and in the broader community? Social factors include everything from LGBTQ+ equality, racial diversity in both the executive suite and staff overall, and inclusion programs and hiring practices. It even looks at how a company advocates for social good in the wider world, beyond its limited sphere of business.

Governance. How does the company’s board and management drive positive change? Governance includes everything from issues surrounding executive pay to diversity in leadership as well as how well that leadership responds to and interacts with shareholders.

BlackRock, Inc. is an American multinational investment management corporation and the world’s largest asset manager.

The company has embraced ESG and encourages portfolio companies to disclose their ESG data including carbon emissions and board diversity, among other criteria.

BlackRock’s woke strategy seems ironic considering their heavy investments with global polluter and the human rights crushing CCP run China.

Last December,William Hild, Executive Director of Consumers’ Research, sent a letter to the governors of the 10 states with the top 10 state pension funds invested with BlackRock.

Hild writes, “Later today, Consumers’ Research, the nation’s oldest consumer advocacy organization, will issue a Consumer Warning focused on the world’s largest money management firm, BlackRock. The warning is meant to raise awareness among American consumers that BlackRock is taking their money and betting on China. In so doing they are putting American security at risk, along with billions of dollars from U.S. investors, including many state-run pension plans. I wanted to make sure that you were aware that your state is one of the top ten states whose public pension funds are invested in BlackRock and, therefore, potentially at risk based on the issues we outline in our Consumer Warning.”

“For these reasons and more, Consumers’ Research wants to ensure you are aware of the risks associated with investing with BlackRock. We urge elected officials to do their due diligence in educating themselves and their staff on the multiple risks posed by BlackRock’s extensive investments in Chinese companies, both from an ethical standpoint as well as the fiduciary responsibility owed to U.S. pension holders and retirees. As the leader of a state whose pension funds are among the top ten most extensively invested in BlackRock, we invite you to examine our report and conduct any necessary efforts to learn more about the risks to the assets of your state’s public employees.”

In addition to Blackrock’s troubling heavy investments in China, their ESG focus has led the State of Florida to announce that it will pull $2 billion of its assets managed by the firm.



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