The Oklahoma Family Staff Departure Device (OPS) lists the services and products of BlackRock, which controlled approximately $4.4 billion of the device’s investments through June 2023, according to its annual financial records. In response to the paperwork, according to the AAF, BlackRock again filed shareholder resolutions to “support policies such as racial equity audits, gender pay gap reports, conservative candidates and pro-business trade unions, and radical climate policy.” Voted for 54 times. Purchased through a Nation Information Request. (Related: Wall Boulevard gets hurt, keep an eye on upcoming GOP targets, Woke Capital)
BlackRock does not need to be the nearest Bud Brightness – and until they cancel a political program over their fiduciary responsibility with our pension budget, Oklahoma will not do business with them. pic.twitter.com/DosgotV5Qv
– Governor Kevin Stitt (@GovStitt) 11 May 2023
“Oklahomaans deserve better than having their retirement savings used for woke corporate activism,” AAF President Thomas Jones told the Daily Caller Information Substructure. “This inappropriate use of public funds jeopardizes the financial security of hardworking Oklahomans who depend on their pensions and jeopardizes the livelihood of every energy worker in America. These vigilante bankers and Wall Street elites are using taxpayer money to impose a leftist agenda on America, while making huge profits for themselves. This information proves once again why BlackRock should be avoided.”
BlackRock is the world’s largest asset supervisor and proponent of environmental, social and governance (ESG) investing, which emphasizes investing in green projects to advance climate-focused efforts, such as net-zero emissions as well as Social impact efforts. According to the Gazette’s web page, OPERS has more than 72,000 members made up of state civil servants.
“The sole focus of BlackRock Investment Stewardship is to advance the financial interests of our clients when we engage with companies or vote at shareholder meetings,” the asset control giant instructed DCNF.
BlackRock also pointed to a filing by DCNF through the Committee to Unharness Prosperity, which gave the company a rating of 8.9 out of 10 in the shareholder vote casting, noting that this is its second ranking increase. It also pointed DCNF to its “2023 Global Voting Spotlight”, stating that BlackRock voted against 93% of climate and social shareholder resolutions.
For example, BlackRock leveraged OPs’ pension budget to vote in favor of a “racial equity audit” resolution at Google’s parent company Alphabet in June 2022, according to national information obtained by AAF.
The social justice task force, Nathan Cummings Substructure, introduced the proposal, which prompted “a third-party, independent racial equity audit analyzing Alphabet Inc.’s adverse impacts on Black, Indigenous, and people of color (BIPOC) communities.” The response also called on Alphabet to “do more to address the significant adverse impacts of its policies, practices, and products on communities of color.”
The asset control giant also disrupted Opser’s pension budget to support a proposal through As You Sow, a nonprofit that provides ESG rankings to firms, asking Berkshire Hathaway “if and how The group intends to “measure, reveal, and reduce” greenhouse gasoline emissions.
Another proposal with a BlackRock subsidy was Christian Brothers Funding Products & Services, Inc., “a Catholic, socially responsible investment management company” in the oil and gas company ExxonMobil. Came from. The response requested that the company file and evaluate how the World Power Company’s (IEA) goal of meeting zero carbon dioxide emissions by 2050 would impact the company financially, raising concerns that sustainable fossil Fuel manufacturing could be disastrous for the company.
“ExxonMobil continues to develop new fossil fuel resources, even while acknowledging that climate change scenarios create uncertainties that could lead to losses,” the proposal states. “Investors are concerned that continued development of new fossil fuel resources increases the risk of such losses in the future. ExxonMobil’s existing, audited annual disclosures do not provide investors with sufficient information about stranded asset risk related to the energy transition.
Republicans have placed considerable scrutiny on ESG investing practices as they allege that the practice violates financial companies’ fiduciary duty by prioritizing social and political issues over profitability.
In 2023, the state of Oklahoma blacklisted 13 financial companies, with future Treasurer Todd Russ saying they are boycotting electric companies, as opposed to stopping the Oklahoma electricity discrimination program in 2022. BlackRock Limited is one of the companies on the Financial Corporate Checklist, although Opps exempted BlackRock from withholding for fiduciary reasons, Pensions & Investments reported.
Additionally, according to court documents, an Oklahoma judge in May temporarily suspended the Oklahoma Powers Discrimination Act of 2022 from enforcement.
BlackRock has similarly disrupted Nevadans’ pension budgets to fund racial equity projects and climate-related proposals inside publicly traded companies by 2022, as DCNF previously reported, an AAF report. According to other reports.
According to Axios, BlackRock CEO Larry Fink said in June that he would no longer use the term “ESG”, citing the term’s political connotations.
Oppers and Russ did not respond to DCNF’s requests for comment.
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