A Tale of Three Letters: Black Rock Under Attack

It’s hard to convince the extremely brainwashed public that the climate agenda is a very expensive scam on taxpayers, but maybe they’ll wake up if the drama gets good. You see, the ones who are benefitting financially from the scam are having a little disagreement about how things should work.

The New York Comptroller recently sent a letter September 22, 2022 warning Black Rock that need to “better align their actions with their climate commitments, and their recognition that climate risk is financial risk.” Black Rock controls $62.5 billion of New York pension funds which the state is threatening to pull.

That letter was a response to Black Rock’s letter to the public claiming that they were not boycotting oil stocks after certain Republican oil funded states pulled millions out of Black Rock.

They were responding to letter number one from Texas Attorney General Ken Paxton which ““Our states will not idly stand for our pensioners’ retirements to be sacrificed for BlackRock’s climate agenda. The time has come for BlackRock to come clean on whether it actually values our states’ most valuable stakeholders, our current and future retirees, or risk losses even more significant than those caused by BlackRock’s quixotic climate agenda,”  the letter states. 

“In the letter, Comptroller Lander writes, “If we do not find a way to dramatically reduce carbon emissions in alignment with the Paris Agreement, the harm will not only be measured in lives lost and people displaced; it will also be measured in trillions of dollars lost in our collective portfolios.””

“The fundamental contradiction between BlackRock’s statements and actions is alarming. BlackRock cannot simultaneously declare that climate risk is a systemic financial risk and argue that BlackRock has no role in mitigating the risks that climate change poses to its investments by supporting decarbonization in the real economy. As a fiduciary cognizant of the risks of inaction, BlackRock must demonstrate a plan to use its position as the world’s largest asset manager, with all the corporate governance responsibilities that go along with that position, to move its portfolio companies to get their businesses in line with a net zero economy.” https://comptroller.nyc.gov/newsroom/comptroller-lander-sends-letter-to-blackrock-ceo-larry-fink-demanding-stronger-action-toward-net-zero-emissions-reduction-across-portfolio/

As I mentioned in the last article, Missouri already pulled their funds from Black Rock. Other states are planning to remove their pension funds as well. https://www.oilandgas360.com/republicans-withdraw-1-billion-from-blackrock-due-to-its-esg-policies/

Larry Fink, you can’t have it both ways! This should be interesting to watch.

Edit: I should have waited to post this because I keep finding more letters! https://oilprice.com/Latest-Energy-News/World-News/Banks-Rush-To-Assure-Texas-They-Like-Oil-And-Gas.html

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