The world’s largest asset manager is facing $1 billion in withdrawals from Republican state treasurers because of the financial giant’s investment priorities, according to published reports.
BlackRock, which manages $8.5 trillion, has come under fire for its aggressive push on so-called ESG investments that promote environmental, social and governance issues.
The outrage has led multiple GOP treasurers to announce they are planning to withdraw — or have already withdrawn — state funds from Larry Fink’s company.
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