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BlackRock, which encourages investors to divest from companies that refuse to tow the ESG line (i.e. fossil energy companies), is feeling the heat. That is, BlackRock is beginning to lose money. Big money. First, West Virginia announced that all state-run pension plans would divest the divestors of BlackRock (see WV Ends Business with 5 Banks ....
A huge business. black rock this morning pushing back against criticism of its environmental, social and government investments. some folks describing it as woke blackrock telling fox business the climate risk and economic opportunities from the energy transition have become a top concern for many of our clients. as i said they are investing now earning one in three investment dollars but complaints. 19 state attorneys general wrote a letter in august to the ceo of blackrock, the nation s largest money manager complaining on policies managing the state pension funds. one is jeff landry objecting saying the policies made in our legislative branch, not woke corporate board rooms. the big three have a responsibility to request with their client s best in mind rather than their own agenda on climate change, politics and other self-interest. former a.g. bill barr saying ....
Instances where they adopt policies that become problematic. that s right. yeah. and they become unethical. it s just an example. asset management corporations screen companies based on their esg criteria, which is their environmental, social and government policies, and they create investment funds that support esg compliant businesses. well, let s say you are an asset management company investing in state pension funds, you are probably investing in areas where funds are under performing so you are yielding fewer returns for your shareholders but also for the beneficiaries of these trust, and that s a breach of fiduciary duty that s unethical. steve: exit question for you, a lot of universities, a lot of the students are woke. is anybody going to take this class? yeah, we have actually we have actually had several students apply. it s completely voluntary. we accept students by application. and i was expecting that we would get a lot of students from ....
Strive Asset Management's anti-activist, energy exchange-traded fund (ETF) showed strong trading with over $60 million in funds in its first two days of trading. ....