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Four Red States Withdraw $1B In Gov't Investments In BlackRock
The GOP-led governments of four conservative southern and western states recently withdrew over $1 Billion worth of investments in mega-asset-manager BlackRock over its promotion of the anti-petrochemical, “fashionable,” political trend called Environmental-Social-Governance (ESG). And by doing so, they offer us another indication of the power governments now have to steer corporate behavior (whether one applauds the behavior or does not) and they hint at a growing regional U.S. schism between mostly leftist northeastern industrial/tech-banking states and mostly southern and western states housing major oil, coal, and natural gas reserves.
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