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Florida pulls money from BlackRock - Jacksonville Business Journal

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Florida pulls money from BlackRock over ideological differences

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 said the state Department of Financial Services oversees about $60 billion and that the money with BlackRock will be moved “elsewhere.” "Stakeholder capitalism is not about politics," Fink wrote."It is not a social or ideological agenda. It is not 'woke.' It is capitalism, driven by mutually beneficial relationships between you and the employees, customers, suppliers, and communities your company relies on to prosper.”

 

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