Posted on 12/07/2022 2:52:42 PM PST by DFG
The controversy over investment titan BlackRock's focus on environmental, social and corporate governance (ESG) issues is heating up, after Texas state lawmakers subpoenaed the company's records in a probe into the issue.
The legislative subpoena, issued last month and reviewed by DailyMail.com on Wednesday, commands BlackRock to hand over documents related to its ESG strategy for a December 15 hearing of the Texas Senate's Committee on State Affairs.
It follows mounting criticism of BlackRock from Republican lawmakers and state officials, who accuse the firm of putting social and political goals ahead of earning returns for investors and retirement savers.
Texas State Senator Bryan Hughes, the Republican chair of the Texas committee, said that requests for the documents had been issued to BlackRock and three other major financial firms in August, but that 'some have provided more than others.'
'The Committee needs these documents to uncover the extent to which these firms have been playing politics using Texans’ hard earned money,' Hughes told DailyMail.com in a statement.
'We will not allow these firms to continue to use Texans’ money to force a narrow political agenda. They have a legal duty to put their investors’ interests first, and we intend to make sure they do,' he added.
Regarding the upcoming hearing, a BlackRock spokesperson told DailyMail.com: 'We look forward to continuing our engagement with the Committee to share BlackRock’s work on behalf of millions of investors.'
(Excerpt) Read more at dailymail.co.uk ...
ESG = Corporate Fiduciary Negligence
The new EPEAT requirements being reviewed by my company are filled with ESG crap. I hope our company rejects participating but I am sure they will embrace it with open arms regardless of the cost of effort.
More good news
Green Agenda = Money Sponge
Embezzlement.
I wouldn’t be surprised if they’re funneling investor’s money to libtards.
It’s a popular crime now
All Red States need to divest in Blackrock and the other “woke” ESG bs companies.
FL, LA, and Texas are taking action. Every red state needs to communicate that we’re not playing their woke games. If enough states pull funds, it might make them take notice.
Someone needs to post Willie from the Simpsons s reaming, “You lied to me Skinner!”
We had a choice at work to put some of our retirement fund into Black Rock awhile back. I opted OUT. I told my boss I’d sooner put it in a CD than one penny in Black Rock.
On the global scene, “global warming” is openly discussed as one reason why developed/civilized countries should give more money to black countries. They simply devolved after chasing out their white colonial masters, and their leaders since independence have simply looted the young countries - so they need a way to get the former colonists to fund rebuilding the roads, rail lines, airports etc. they’ve neglected since the whites left.
Have there not been linked stories in the last few days about JoeK Biden making changes with his magic pen that will effect retirement accounts. Essentially IIRC so that the Blackrocks of the world can do exactly what the are doing. Putting their clients best interest into the back seat and putting ESG investments in the front.
Once again, only transparent reporting comes from foreign press.
bump
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