The Texas Permanent School Fund (PSF) is pulling $8.5 billion from the investment firm BlackRock over its use of environmental, social and governance (ESG) policies.
The board informed the investment firm that it was being terminated as the manager of the Navarro 1 Fund in a Tuesday letter, which it provided to the Daily Caller News Foundation. The divestment represents the largest from the private firm, according to Fox Business Network.
Read More
Four members of Congress recently reported buying and selling financial assets, despite co-sponsoring a bill that would ban such trades, disclosures show.
Democratic Reps. Mary Gay Scanlon of Pennsylvania, Jeff Jackson of North Carolina, Bill Keating of Massachusetts and Republican Rep. Pete Sessions of Texas all reported selling or purchasing assets after they signed on as co-sponsors of the TRUST In Congress Act, financial disclosures show. The TRUST In Congress Act would ban members of Congress from directly trading covered investments, which includes securities, commodities futures and similar assets by requiring them to place such assets in a blind trust.
Read More
BlackRock on Friday reached an agreement to acquire Global Infrastructure Partners for $12.5 billion, a move aimed at advancing the investment giant’s climate objectives and capitalizing on government subsidies, according to statements and reports.
BlackRock is the world’s largest asset manager and is a proponent of environmental, social and corporate governance (ESG) investing. Both companies share a commitment to decarbonization and BlackRock sees the deal’s timing as opportune, as governments have offered businesses rare financial incentives to build infrastructure, including for green energy projects, according to a press release.
Read More