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Florida Governor Follows West Virginia in Pulling State Funds from Blackrock Over ESG Investing

Added 12-01-22 06:36:03pm EST - “West Virginia Treasurer Riley Moore lead the way earlier this year in removing Wall Street financial firms from holding state funds due to ?Environmental, Social and Governance' or ?ESG' climate change ideology driving investment…” - Theconservativetreehouse.com

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Posted By TheNewsCommenter: From Theconservativetreehouse.com: “Florida Governor Follows West Virginia in Pulling State Funds from Blackrock Over ESG Investing - The Last Refuge”. Below is an excerpt from the article.

West Virginia Treasurer Riley Moore lead the way earlier this year in removing Wall Street financial firms from holding state funds due to ‘Environmental, Social and Governance’ or ‘ESG’ climate change ideology driving investment decisions.

West Virginia had been the tip of the spear since early 2021 {link} removing Blackrock in January of 2022, and even removed banking contracts from multiple investment firms during the battle and asked other states to join in the effort {link}.

Today, Florida Chief Financial Officer Jimmy Patronis announced the DeSantis administration would be following the lead from West Virginia.

[FLORIDA] – […] State Chief Financial Officer Jimmy Patronis announced Thursday that Florida will immediately freeze about $1.43 billion in long-term securities and about $600 million in short-term overnight investments managed by BlackRock because of the firm’s use of “Environmental, Social, and Governance” standards — known as ESG.

Patronis in a prepared statement said he doesn’t “trust BlackRock’s ability to deliver” and “BlackRock CEO Larry Fink is on a campaign to change the world.”

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