pjmedia.com Louisiana State Treasurer John Schroder is not sure why his latest announcement is making the news. On Wednesday, he sent a letter to BlackRock CEO Larry Fink to inform him that Louisiana will divest all Treasury funds from the investment firm. To date, Schroder’s office has removed $560 million from BlackRock funds, and a total of $794 million will be removed by year’s end. Schroder is taking issue with BlackRock’s intent to push an Environmental, Social, and Governance (ESG) agenda ahead of investment growth.
“I have been the State Treasurer for five years, and this is not the first time I have had to battle financial institutions trying to push a political agenda,” Schroder said during an interview. A few years ago, banks tried to punish Louisiana for its laws supporting the Second Amendment. “If you want to change gun policy in Louisiana, go to the legislature and get a law passed that the governor will sign. Then I will follow it,” he said. “You don’t get to use financial pressure to go around the legislative process.”…
