{"id":1759584,"date":"2022-12-02T06:04:16","date_gmt":"2022-12-02T11:04:16","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1759584"},"modified":"2022-12-02T09:37:28","modified_gmt":"2022-12-02T14:37:28","slug":"latest-florida-move-is-the-largest-anti-esg-divestment-in-history","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/latest-florida-move-is-the-largest-anti-esg-divestment-in-history\/","title":{"rendered":"Latest Florida Move Is the Largest Anti-ESG Divestment in History"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Flatest-florida-move-is-the-largest-anti-esg-divestment-in-history%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1759584&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/12\/32d06db8-d11a-4c86-9b5e-f46f21a59aa5.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>The state government of Florida is clawing back billions of investment dollars previously managed by BlackRock in order to pushback on the firm&#8217;s proliferation of extremely damaging &#8220;environmental, social governance&#8221; policies known as &#8220;ESG.&#8221; It&#8217;s the largest anti-ESG divestment in history.\u00a0<span>\u00a0<\/span><\/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<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">\u00a0BREAKING: Florida&#8217;s Chief Financial Officer <a href=\"https:\/\/twitter.com\/JimmyPatronis?ref_src=twsrc%5Etfw\">@JimmyPatronis<\/a> has announced that the state of Florida will be pulling over $2 billion from woke asset manager <a href=\"https:\/\/twitter.com\/BlackRock?ref_src=twsrc%5Etfw\">@BlackRock<\/a> over their ESG policies: <a href=\"https:\/\/t.co\/sQURAWLh2W\">pic.twitter.com\/sQURAWLh2W<\/a><\/p>\n<p>\u2014 Consumers&#8217; Research (@ConsumersFirst) <a href=\"https:\/\/twitter.com\/ConsumersFirst\/status\/1598334096014442496?ref_src=twsrc%5Etfw\">December 1, 2022<\/a><\/p><\/blockquote>\n<p id=\"isPasted\">\u201cBlackRock 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 \u2013 known as ESG \u2013 to help police who should, and who should not gain access to capital,&#8221; Florida&#8217;s Chief Financial Officer Jimmy Patronis released in a statement. \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. I 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 \u2013 run for office. Start a non-profit. Donate to the causes you care about.&#8221;<\/p>\n<p>\u201cUsing our cash, however, to fund BlackRock\u2019s social-engineering project isn\u2019t something Florida ever 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. Florida\u2019s Treasury Division is divesting from BlackRock because they have openly stated they\u2019ve got other goals than producing returns. As Larry Fink stated to CEOs \u2018&#8217;Access to capital is not a right. It is a privilege.\u2019 As Florida\u2019s CFO I agree wholeheartedly, so we\u2019ll be taking Larry up on his offer. There\u2019s no lack of companies who will invest on our behalf, so the Florida Treasury will be taking its business elsewhere,\u201d he continued.<\/p>\n<p>The move comes after 19 attorneys general announced an investigation into six banks over ESG restrictions, which harm local industries. As Spencer <a href=\"https:\/\/townhall.com\/tipsheet\/spencerbrown\/2022\/10\/19\/attorneys-general-launch-probe-of-major-banks-esg-investments-n2614736\" rel=\"noopener noreferrer\" target=\"_blank\">reported in October:<\/a>\u00a0<\/p>\n<blockquote>\n<p>Led by Missouri Attorney General Eric Schmitt, 19 state attorneys general announced an investigation of six major banks on Wednesday, probing their involvement with a U.N. alliance dedicated to advancing the ESG (environmental, social, and governance) agenda.\u00a0<\/p>\n<p>The AGs look to learn more about the banks&#8217; involvement with the U.N.&#8217;s &#8220;Net-Zero Banking Alliance&#8221; which has adopted ESG&#8217;s radical climate agenda with the stated goal of &#8220;aligning their lending and investment portfolios with net-zero emissions&#8221; by the year 2050. At present, the UN&#8217;s ESG bank alliance represents some 40 percent of the world&#8217;s banking assets. The alliance claims it &#8220;reinforces, accelerates and supports the implementation of decarbonisation strategies&#8221; \u2014 i.e., the eradication of fossil fuels \u2014 and notes the &#8220;vital role of banks in supporting the global transition of the real economy to net-zero emissions.&#8221;<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The state government of Florida is clawing back billions of investment dollars previously managed by BlackRock in order to pushback on the firm&#8217;s proliferation of extremely damaging &#8220;environmental, social governance&#8221;<\/p>\n","protected":false},"author":1,"featured_media":1759587,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1759584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1759584","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1759584"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1759584\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1759587"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1759584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1759584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1759584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}