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Louisiana treasurer follows GOP playbook in penalizing BlackRock for ESG considerations [1]
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Date: 2022-10-06
Fink, who typically writes an annual shareholder letter, previously pushed back against criticisms of ESG investment strategies, assuring investors that capitalism is never “woke” nor is access to capital “a right.” For companies like BlackRock, it truly comes down to the bottom line, hence their slow walking of more climate-forward investment strategies. That’s not good enough for Republicans like Schroder, who erroneously claimed that BlackRock’s actions amount to policies that would “take food off tables, money out of pockets and jobs away from hardworking Louisianans.”
Even the American Petroleum Institute admits the fossil fuel industry boosts just 12.6% of jobs in Louisiana. It’s no secret that oil and gas jobs are lagging compared with the opportunities in clean energy. Louisiana Bucket Brigade Southwest Louisiana coordinator James Hiatt further pushed back against Schroder’s claims, calling his politicizing of ESG measures “a sad state of affairs.”
“The political backlash over BlackRock including the community and environmental impacts in its investment decisions demonstrate just how deep the polluter industry's hooks are—and who these politicians really work for. ESG won't destroy Louisiana's economy; politicians delaying economic diversification and the rising seas will,” Hiatt said.
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[1] Url:
https://www.dailykos.com/stories/2022/10/6/2127335/-Louisiana-Treasurer-follows-GOP-playbook-in-penalizing-BlackRock-for-ESG-considerations
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