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Texas Schools Fund Moves To Pull $8.5 Billion Contract With BlackRock

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Elderberry:
DailyWire By  Daniel Chaitin Mar 19, 2024   

The Texas Permanent School Fund (PSF) opted on Tuesday to terminate an $8.5 billion investment with BlackRock Inc., with one official citing the financial asset manager’s support of environmental, social, and governance (ESG) proposals.

State Board of Education Chairman Aaron Kinsey said in a statement that PSF’s “relationship with BlackRock was not in compliance” with legislation enacted in 2021 that “prohibits state investment in companies like BlackRock that boycott energy companies.”

PSF “has a fiduciary duty to protect Texas schools by safeguarding and growing the approximately $1 billion in annual oil and gas royalties managed by the Texas General Land Office,” Kinsey said, adding that terminating BlackRock’s contract “ensures PSF’s full compliance with Texas law.”

More: https://www.dailywire.com/news/texas-schools-fund-moves-to-pull-8-5-billion-contract-with-blackrock

Bigun:

--- Quote from: Elderberry on March 21, 2024, 02:05:58 pm ---DailyWire By  Daniel Chaitin Mar 19, 2024   

The Texas Permanent School Fund (PSF) opted on Tuesday to terminate an $8.5 billion investment with BlackRock Inc., with one official citing the financial asset manager’s support of environmental, social, and governance (ESG) proposals.

State Board of Education Chairman Aaron Kinsey said in a statement that PSF’s “relationship with BlackRock was not in compliance” with legislation enacted in 2021 that “prohibits state investment in companies like BlackRock that boycott energy companies.”

PSF “has a fiduciary duty to protect Texas schools by safeguarding and growing the approximately $1 billion in annual oil and gas royalties managed by the Texas General Land Office,” Kinsey said, adding that terminating BlackRock’s contract “ensures PSF’s full compliance with Texas law.”

More: https://www.dailywire.com/news/texas-schools-fund-moves-to-pull-8-5-billion-contract-with-blackrock

--- End quote ---

 :hands: :hands: :hands: :hands:

It's about damned time!

Smokin Joe:

--- Quote from: Bigun on March 21, 2024, 02:37:37 pm --- :hands: :hands: :hands: :hands:

It's about damned time!

--- End quote ---
:yowsa: 888high58888 :beer:

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