After his landslide re-election victory, Governor Ron DeSantis declared that “Florida is where ‘woke’ goes to die!” Sure enough, the Chief Financial Officer of Florida, Jimmy Patronis, recently announced the withdrawal of $2 billion of the state’s treasury funds from Blackrock, the world’s largest asset manager.
Larry Fink, the CEO of Blackrock, has led the way towards environmental, social, and governance (ESG) factors for a new approach to investment management. In fact, in his 2020 annual letter, Fink emphasized “making sustainability integral…launching new investment products that screen fossil fuels.” An energy-rich state like Oklahoma does not need to enrich this kind of thinking with taxpayer dollars.
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