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Louisiana divests from BlackRock over ESG policies: 'Would destroy Louisiana's economy'

Louisiana divests from BlackRock over ESG policies: 'Would destroy Louisiana's economy' --ESG standards would lead to the 'crippling of our own economy,' Louisiana Treasurer John Schroder wrote | 5 Oct 2022 | Louisiana informed mega bank BlackRock on Wednesday that it will divest from the firm's investment portfolio over its anti-fossil fuel policies. Louisiana Treasurer John Schroder penned a letter to BlackRock CEO Larry Fink, explaining the state would liquidate all BlackRock investments within three months and, over a period of time, divest nearly $800 million from the bank's money market funds, mutual funds or exchange-traded funds. The state treasurer blasted Fink's pursuit of so-called environmental, social and governance (ESG) standards that promote green energy over traditional fossil fuels. "Your blatantly anti-fossil fuel policies would destroy Louisiana's economy," Schroder wrote to Fink in the letter first obtained by FOX Business.