Florida divests from “woke” firm - Biden-Macron state dinner - Wormhole simulation

Source: Bloomberg and Yahoo! Finance

1. Summary
   Several states have pulled state funds from BlackRock over its ESG policies, which are intended to improve the corporate response to climate change and boost diversity, among other things. However, Florida's $2 billion divestment is the largest to date, considerably larger than the $800 million pulled by Louisiana and Missouri's $500 million. But Florida's divestment barely dents the $8 trillion BlackRock manages.
   
   Florida has accused BlackRock of prioritizing "wokeness" over returns. Gov. DeSantis has said companies with ESG policies are undemocratically imposing an ideology. The state's chief financial officer said BlackRock "openly stated they’ve got other goals than producing returns."
   
   BlackRock said it has given Florida strong returns and noted that Florida's CFO has yet to raise any performance concerns. "Fiduciaries should always value performance over politics," the company said. The firm has encouraged companies in its portfolio to disclose more emissions-related data, but has not divested from oil companies despite calls for it to do so.

   Highly-rated - last 48 hrs
   Florida pulls $2 bln from BlackRock in largest anti-ESG divestment.
   Reuters (Center) • Factual Grade 79% • 2 min read
   

1. Different political viewpoint
   Florida yanks $2B from ‘woke’ BlackRock over ‘social-engineering project.’
   New York Post (Moderate Right) • Factual Grade 62% • 3 min read

1. Selected long-read
   The "anti-ESG" movement has nutty ideas about Wall Street.
   New Republic (Left) • Factual Grade 90% • 10 min read

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