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Author Topic: Texas Schools Fund Moves To Pull $8.5 Billion Contract With BlackRock  (Read 1869 times)

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Online Elderberry

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

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Re: Texas Schools Fund Moves To Pull $8.5 Billion Contract With BlackRock
« Reply #1 on: March 21, 2024, 02:37:37 pm »
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

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It's about damned time!
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Offline Smokin Joe

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Re: Texas Schools Fund Moves To Pull $8.5 Billion Contract With BlackRock
« Reply #2 on: March 21, 2024, 10:32:23 pm »
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How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

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