Big Bucks Divesting From Fossil Fuel Industry = Blue State Activists Are Working to Decarbonize Trillions

[Razoo]

Blue State Activists Are Working to Decarbonize Trillions

And they don’t need Joe Manchin’s permission.

www.thenation.com

Young activists and protesters gather in front of investment firm BlackRock's office in San Francisco, Calif., on Friday, December 6, 2019. (Yichuan Cao / Sipa USA via AP)


Republican state leaders are on the warpath against BlackRock, the largest financial asset manager in the nation.

The company’s sin? Statements by BlackRock leadership that climate change is a long-term threat, and that the company will pursue investments that promote a reduction in emissions.

In January, West Virginia declared that it was barring the company from managing its state pension funds. Texas passed legislation in February prohibiting any firm divesting from fossil fuels from managing state assets.

In March, the Arkansas State Treasurer March withdrew $125 million from money market accounts managed by BlackRock.

This followed a letter last year sent by a dozen Republican state treasurers threatening to pull funds from banks that had made commitments in line with the Paris climate accord to stop financing new fossil fuel investments.

 

[Loulit01]

Even when reprehensible corporations like Black Rock try to do the right, neo-conservatives insist on maintaining their suicide pact with fossil fuels.
Nice catch, Razoo.

 

[HangLow]

Blue State Activists Are Working to Decarbonize Trillions

And they don’t need Joe Manchin’s permission.

www.thenation.com

Young activists and protesters gather in front of investment firm BlackRock's office in San Francisco, Calif., on Friday, December 6, 2019. (Yichuan Cao / Sipa USA via AP)


Republican state leaders are on the warpath against BlackRock, the largest financial asset manager in the nation.

The company’s sin? Statements by BlackRock leadership that climate change is a long-term threat, and that the company will pursue investments that promote a reduction in emissions.

In January, West Virginia declared that it was barring the company from managing its state pension funds. Texas passed legislation in February prohibiting any firm divesting from fossil fuels from managing state assets.

In March, the Arkansas State Treasurer March withdrew $125 million from money market accounts managed by BlackRock.

This followed a letter last year sent by a dozen Republican state treasurers threatening to pull funds from banks that had made commitments in line with the Paris climate accord to stop financing new fossil fuel investments.

​

 

[Torus34]

The present state of Lake Powell and its probable future, looking forward, say, two years, stands as mute evidence of the problems associated with climate change.

We as a society can, through our government, our corporations and ourselves, choose to take action or not.

The decision has consequences.

Regards, stay safe 'n well 'n remember the Big 5.

 

[Razoo]

The Bush family of polluters are associated with Black Rock I believe......if my memory serves me well.