(Bloomberg) -- It was just weeks ago when BlackRock Inc. Chief Executive Officer Larry Fink took the stage with Texas Lieutenant Governor Dan Patrick at an...
-- It was just weeks ago when BlackRock Inc. Chief Executive Officer Larry Fink took the stage with Texas Lieutenant Governor Dan Patrick at an industry event in Houston.Apple Is in Talks to Let Google Gemini Power iPhone AI Features
Kinsey said BlackRock was terminated by the fund’s leadership to comply with a 2021 Texas law that restricts investments with companies that engage in so-called boycotts of the fossil fuels industry. The firm is on a list of companies that State Comptroller Glenn Hegar considers to be violators. The Texas Permanent School Fund Corporation said in a statement Tuesday that it made the move after it adopted a new strategic asset allocation last month, which eliminated “the increasingly volatile emerging market debt and equities and reduces exposure to non-U.S. equity areas in which BlackRock was providing investment management services.”
He’s previously criticized the depiction of the oil and gas industry in proposed science textbooks, according to the Austin-American Statesman. The board of education in 2023 removed proposed science books from consideration. The move is a win for the proponents of the anti-ESG movement in Texas. Wayne Christian, who is part of a three-person panel that regulates oil and natural gas drilling in the nation’s biggest crude-producing state, cheered the decision, saying BlackRock “wants to end oil and gas, brainwash kids to hate fossil fuels, and jeopardize our energy freedom.
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