Boom! Louisiana Divesting $800 Million from BlackRock Funds

BlackRock, which encourages investors to divest from companies that refuse to tow the ESG line (i.e. fossil energy companies), is feeling the heat. That is, BlackRock is beginning to lose money. Big money. First, West Virginia announced that all state-run pension plans would divest the divestors of BlackRock (see WV Ends Business with 5 Banks Guilty of Boycotting Fossil Fuels). Texas, the second largest (by population) state in the country, was next (see TX Blacklists BlackRock & 9 Others – State Pension Funds to Divest). Then Florida, the third largest state in the country, announced it will divest from BlackRock (see Florida Follows WV, TX in Banning Investments in Woke ESG Funds). And now Louisiana has announced it will divest all BlackRock holdings--which total as much as $800 million!

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