Thu Dec 1, 2022 – 9:27 pm EST
(LifeSiteNews) — Headed by historically popular Republican Gov. Ron DeSantis, the state of Florida is withdrawing a whopping $2 billion in assets from BlackRock, the world’s top investment manager, due to the company’s promotion of left-wing agenda items through divisive Environmental, Social, and Governance (ESG) scores.
The divestment appears to be the largest to date from a Republican state government as BlackRock continues to take hits for its increasingly unpopular promotion of ESG.
Florida Chief Financial Officer Jimmy Patronis’ office made the announcement in a Wednesday press release, explaining that by the start of next year “BlackRock’s management of all short- and long-term investments” will be divested from the State Treasury. The funds will instead be moved to alternate investment management companies.
In the press release, Patronis said he doesn’t “trust BlackRock’s ability to deliver,” and expressed opposition to BlackRock CEO Larry Fink’s stated mission to “shape society” via “stakeholder capitalism.”
“To meet this end, the asset management company has leaned heavily into Environmental, Social, and Governance standards – known as ESG – to help police who should, and who should not gain access to capital,” he explained.
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