Florida’s chief financial officer Jimmy Patronis has said the state’s treasury will pull roughly $2bn in assets from BlackRock, the latest in a string of anti-ESG divestment from Republicans in the US.
In a statement yesterday (1 December), Patronis said that BlackRock would be removed as a manager from $600 million of short-term investments and would be frozen out of $1.4bn of long-term securities. He said that the taxpayer funds, which are part of Florida's Treasury Investment Pool, would be reallocated to other managers by the start of next year. Deep Dive: Renewables key to 'plug the chasm' in energy transition The move comes following the decision by Louisiana and Missouri treasurers to pull $794m and $500m respectively from BlackRock in October. Patronis described BlackR...
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