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October 18, 2022 at 02:28 PM
Missouri withdrew $500 million of pension assets from BlackRock Inc., criticizing the firm for prioritizing ESG concerns over shareholder returns.
“We should not allow asset managers such as BlackRock, who have demonstrated that they will prioritize advancing a woke political agenda above the financial interests of their customers, to continue speaking on behalf of the state of Missouri,” state Treasurer Scott Fitzpatrick said Tuesday in a statement.
BlackRock spokesman Ed Sweeney said the firm offers choices to clients on how to invest and that the company has attracted $248 billion in net new long-term assets this year.
“While the actions of some elected officials have attracted media headlines, they do not reflect the totality of our clients’ investment decisions,” Sweeney said in an emailed statement responding to Missouri’s move.
