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Texas schools pull $8.5 billion from BlackRock over fossil fuel ‘boycott’

Posted on AllSides March 19th, 2024
From The Center

Texas’s public schools are pulling out billions of dollars that had been invested with asset manager BlackRock — a firm the state accused of boycotting fossil fuels.

On Tuesday, Aaron Kinsey (R), head of the state board of education, announced that his agency was pulling $8.5 billion out of management by BlackRock.

The company’s “dominant and persistent leadership” in the environmental, social and governance (ESG) movement “immeasurably damages our state’s oil & gas economy and the very companies that generate revenues” for Texas’s Permanent School Fund (PSF), which supports the...

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