Texas withdraws $8.5 billion from BlackRock, in a blow to the ESG movement

BlackRock pushes back after Texas withdraws $8.5 billion investment from its Permanent School Fund. Asset manager says the decision was a result of an alleged boycott of oil and gas companies. BlackRock pushed back on Texas' decision to pull roughly $8 billion investment.

Texas withdraws $8.5 billion from BlackRock over ESG in biggest such divestment. Texas will pull $8 billion in investments over its ESG policies. Several Republican states have done the same after several Republican states did the same. The biggest divestment is the biggest in the history of divestment by a single state.

State of Texas pulls $8.5B from BlackRock in stunning blow to ESG movement. State said the state said the move signals a boycott of energy companies. BlackRock's ESG policies have been criticized by the state for being anti-environmental in the past.