{"id":327481,"date":"2022-12-02T10:20:37","date_gmt":"2022-12-02T15:20:37","guid":{"rendered":"https:\/\/www.sgtreport.com\/?p=327481"},"modified":"2022-12-01T23:32:11","modified_gmt":"2022-12-02T04:32:11","slug":"florida-pulls-2-billion-in-investments-from-blackrock-over-esg-social-engineering-project","status":"publish","type":"post","link":"https:\/\/www.sgtreport.com\/2022\/12\/florida-pulls-2-billion-in-investments-from-blackrock-over-esg-social-engineering-project\/","title":{"rendered":"Florida Pulls $2 Billion in Investments From BlackRock Over ESG \u201cSocial Engineering Project\u201d"},"content":{"rendered":"<p><em>by James Murphy, <a href=\"https:\/\/thenewamerican.com\/florida-pulls-2-billion-in-investments-from-blackrock-over-esg-social-engineering-project\/\" target=\"_blank\" rel=\"noopener\">The New American<\/a>:<\/em><\/p>\n<p><img decoding=\"async\" class=\"alignleft\" style=\"width: 35%;\" src=\"https:\/\/jbs.org\/assets\/sites\/2\/ESG-investing-12.1.22.jpg\" alt=\"\" \/><\/p>\n<p>The globalist movement to insist that corporations do business according to how well they align with left-wing ESG (Environment, Social, Governance) scores received some pushback from another American state on Thursday. Florida\u2019s CFO announced that the state was pulling $2 billion in investments from the behemoth investment management company BlackRock, largely over its commitment to valuing ESG scores in its business dealings.<\/p>\n<p><!--more Read More--> TRUTH LIVES on at\u00a0<a href=\"https:\/\/sgtreport.tv\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-auth=\"NotApplicable\">https:\/\/sgtreport.tv\/<\/a><\/p>\n<p>Recall that several states, including West Virginia, Texas, and Idaho, have already pushed back against banks and corporations such as BlackRock, Goldman Sachs, JPMorgan Chase, Morgan Stanley, U.S. Bancorp, and Wells Fargo for using ESG scores to determine, among other things, the creditworthiness of states.<\/p>\n<p>Now, Florida CFO Jimmy Patronis has announced that the Sunshine State is backing away from ESG promoter BlackRock, promising a $2 billion dollar divestment from the globalist company.<\/p>\n<p>\u201cUsing Florida\u2019s cash to fund BlackRock\u2019s social-engineering project isn\u2019t something we signed up for. It\u2019s got nothing to do with maximizing returns and is the opposite of what an asset manager is paid to do. We\u2019re divesting from BlackRock,\u201d Patronis tweeted.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Using Florida\u2019s cash to fund BlackRock\u2019s social-engineering project isn\u2019t something we signed up for. It\u2019s got nothing to do with maximizing returns and is the opposite of what an asset manager is paid to do. We\u2019re divesting from BlackRock. READ MORE HERE: <a href=\"https:\/\/t.co\/acstXCDjqW\">https:\/\/t.co\/acstXCDjqW<\/a><\/p>\n<p>\u2014 Jimmy Patronis (@JimmyPatronis) <a href=\"https:\/\/twitter.com\/JimmyPatronis\/status\/1598332294225346560?ref_src=twsrc%5Etfw\">December 1, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Patronis further laid out his case in a\u00a0<a href=\"https:\/\/www.myfloridacfo.com\/news\/pressreleases\/details\/2022\/12\/01\/cfo-jimmy-patronis-florida-treasury-divesting-from-blackrock\" target=\"_blank\" rel=\"noreferrer noopener\">statement<\/a>:<\/p>\n<blockquote class=\"wp-block-quote\"><p>BlackRock CEO Larry Fink is on a campaign to change the world. In an open letter to CEOs, he\u2019s championed \u2018stakeholder capitalism\u2019 and believes that \u2018capitalism has the power to shape society.\u2019 To meet this end, the asset management company has leaned heavily into Environmental, Social, and Governance standards \u2014 known as ESG \u2014 to help police who should, and who should not gain access to capital.<\/p><\/blockquote>\n<p>Indeed, Fink\u2019s open\u00a0<a href=\"https:\/\/www.blackrock.com\/corporate\/investor-relations\/larry-fink-ceo-letter\" target=\"_blank\" rel=\"noreferrer noopener\">letter<\/a>\u00a0could have been written by Klaus Schwab himself:<\/p>\n<blockquote class=\"wp-block-quote\"><p>In today\u2019s globally interconnected world, a company must create value for and be valued by its full range of stakeholders in order to deliver long-term value for its shareholders\u2026. The pandemic has turbocharged an evolution in the operating environment for virtually every company.<\/p><\/blockquote>\n<p>But Patronis has the same questions a lot of people have about what Schwab and Fink refer to as \u201cstakeholder capitalism.\u201d<\/p>\n<p>\u201cWhether stakeholder capitalism, or ESG standards, are being pushed by BlackRock for ideological reasons, or to develop social credit ratings, the effect is to avoid dealing with the messiness of democracy,\u201d the Florida CFO pointed out. \u201cI think it\u2019s undemocratic of major asset managers to use their power to influence societal outcomes. If Larry, or his friends on Wall Street, want to change the world \u2014 run for office. Start a non-profit. Donate to the causes you care about.\u201d<\/p>\n<p>A statement from BlackRock accused Patronis of valuing politics over the performance of funds: \u201cWe are disturbed by the emerging trend of political initiatives like this that sacrifice access to high-quality investments and thereby jeopardize returns, which will ultimately hurt Florida\u2019s citizens. Fiduciaries should always value performance over politics.\u201d<\/p>\n<p><a href=\"https:\/\/thenewamerican.com\/florida-pulls-2-billion-in-investments-from-blackrock-over-esg-social-engineering-project\/\" target=\"_blank\" rel=\"noopener\"><strong>Read More @ TheNewAmerican.com<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>by James Murphy, The New American: The globalist movement to insist that corporations do business according to how well they align with left-wing ESG (Environment, Social, Governance) scores received some pushback from another American state on Thursday. Florida\u2019s CFO announced that the state was pulling $2 billion in investments from the behemoth investment management company [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[143415],"_links":{"self":[{"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/posts\/327481"}],"collection":[{"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/comments?post=327481"}],"version-history":[{"count":0,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/posts\/327481\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/media?parent=327481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/categories?post=327481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/tags?post=327481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}