Written by by Margaret Flavin at thegatewaypundit.com
Texas State Board of Education Chairman Aaron Kinsey announced that the Texas Permanent School Fund (PSF) delivered an official notice to BlackRock Inc. terminating an $8.5 billion investment with the firm.
BlackRock, Inc., an American multinational investment management corporation and the world’s largest asset manager,
has embraced ESG Environmental, Social, and Governance Investing (ESG).
In 2021, William Hild, Executive Director of Consumers’ Research, sent a letter to the governors of the 10 states with the top 10 state pension funds invested with BlackRock with a consumer warning.
Hild wrote, “Later today, Consumers’ Research, the nation’s oldest consumer advocacy organization, will issue a Consumer Warning focused on the world’s largest money management firm, BlackRock. The warning is meant to raise awareness among American consumers that BlackRock is taking their money and betting on China. In so doing they are putting American security at risk, along with billions of dollars from U.S. investors, including many state-run pension plans. I wanted to make sure that you were aware that your state is one of the top ten states whose public pension funds are invested in BlackRock and, therefore, potentially at risk based on the issues we outline in our Consumer Warning.”