By John Hugh DeMastri
Daily Caller News Foundation
Republican State Treasurer Todd Russ of Oklahoma sent a letter to over 100 financial institutions to determine if their Environmental, Social and Governance (ESG) policies disqualify them from working with the Oklahoma government, Russ’ office announced Wednesday.
Companies will have until March 31 to respond to a series of 19 questions that the state of Oklahoma will use to determine if the company is violating Oklahoma law by engaging in a boycott of energy companies, according to the letter obtained by the Daily Caller News Foundation. Russ specifically mentioned BlackRock, the world’s largest asset manager and frequent target of GOP criticism for its consistent support of ESG investing, which Republican critics allege violates its fiduciary duty to its clients, in a statement to the DCNF.
“This list is crucial to provide accountability for our government entities, including organizations responsible for pension funds such as the Oklahoma Public Employees Retirement System (OPERS), Teachers Retirement System (TRS) to ensure our constituents’ tax dollars are only invested in secure and verified financial companies that comply with Oklahoma law,” Russ told the DCNF. “OPERS alone has more than 60 percent of their portfolio totaling more than $10 billion managed by Blackrock, a well-known adversary of energy businesses.”
The debate around financial managers’ use of ESG policies has intensified in recent months, as several Republican states pulled billions from BlackRock. The company was also among those who received a letter from Democratic New York City Comptroller Brad Lander, who threatened to pull $43 billion from the firm, and more from others, if they failed to support shareholder resolutions that promoted “net zero” investment strategies.
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BlackRock CEO Larry Fink took the stance that “climate risk is investment risk,” in a 2022 letter to CEOs. In that letter, Fink criticized the characterization of his firm’s investment strategies as “woke,” arguing that the company supported environmental goals “not because we’re environmentalists, but because we are capitalists and fiduciaries to our clients.”
ESG funds tend to underperform compared to non-ESG funds held by the same asset managers, while charging higher rates, according to a study of 147 self-identified ESG funds in the U.S., conducted by researchers at the London School of Economics and Columbia Business School. The authors also found “no evidence” that ESG funds tended to invest in companies that were more compliant with environmental regulations.
“BlackRock’s sole focus is delivering the best long-term financial results consistent with our clients’ investment goals,” the company said in a statement to the DCNF. “We do not boycott energy companies, as demonstrated by over $200 billion of investments in US traditional energy companies made on behalf of our clients. We look forward to engaging with the Oklahoma Treasurer to discuss how BlackRock serves our clients’ interests in Oklahoma and elsewhere, including over $20 billion of investments in Oklahoma-based public companies made on behalf of our clients and managing public pensions for more than 73,000 Oklahoma beneficiaries.”
This story originally was published by the Daily Caller News Foundation.
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EDITOR’S NOTE: What is behind the current war against America’s children? Why are so many adults killing their unborn children right up to the moment of birth, or even after? Why are millions of kids sexualized virtually from birth, and injected with an experimental “vaccine” proven to be both ineffective and dangerous, then as toddlers transported to events glorifying mentally ill, demonically possessed men dressed as women?
Why are America’s children systematically sexualized at school, and by transgender recruiters on social media platforms like TikTok, seducing many into “identifying” as the opposite gender, or a brand-new imaginary gender, then encouraged to take powerful drugs and hormones and have their healthy breasts amputated or undergo chemical or surgical castration?
Why are our children simultaneously indoctrinated with toxic Marxist ideologies like “critical race theory” intended to condition them to hate and reject their own country, parents, faith, race, gender and themselves? Why are they simultaneously being frightened of the future by being fed lurid, terrifying – and groundless – apocalyptic tales of the imminent destruction of the world due to global warming?
No wonder youth suicides have skyrocketed, as have depression, anxiety, addiction and drug overdoses. Indeed, fentanyl, the No. 1 cause of death of younger Americans 18 to 45, destroys multitudes of children annually.
Make no mistake: The harm being done to America’s children in this multi-front war is not accidental: Children are the primary target.
WHY? How can all this be happening in the greatest nation on earth? Who and what is behind it? And HOW CAN IT BE STOPPED?
Find out in the explosive January issue of WND’s critically acclaimed monthly Whistleblower magazine, “WINNING THE WAR AGAINST AMERICA’S CHILDREN,” available in both print and state-of-the-art digital editions.