States Pulling Hundreds of Billions in Retirement Funds from ‘Woke Capitalist’ ESG Investment Management Firms

On Tuesday, Oct. 18th, Missouri Attorney General Scott Fitzpatrick divested $500 million in assets managed by the massive investment management firm BlackRock on behalf of the Missouri State Employees’ Retirement System (MOSERS). AG Fitzpatrick criticized BlackRock’s blind commitment to environmental, social, and governance (ESG) principles, noting that “fiduciary duty must remain the top priority for investment managers—a duty some of them have abdicated in favor of forcing a left-wing social and political agenda that has failed to succeed legislatively, on publicly traded companies.”

A relatively new group, the State Financial Officers Foundation (SFOF), has also taken action against ESG-obsessed investment management firms and strategies.

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