Texas’ BlackRock Divestment is a Monumental Step in Fight Against ESG

Press Releases · Mar 19, 2024

WASHINGTON—Heritage Action, a conservative grassroots organization with two million activists nationwide, including thousands of Texans, released the following statement from Executive Vice President Ryan Walker commending Texas for combating the dangerous environmental, social, and governance (ESG) movement by terminating its $8.5 billion BlackRock investment:

“ESG investing fails Americans by ignoring fiduciary responsibility, economic freedom, and prosperity in the name of social justice and climate extremism. BlackRock’s adherence to ESG in Texas punished some of the state’s key industries and laundered Texans’ hard-earned savings into Left-wing political priorities—against their will. Texas’ $8.5 billion divestment from BlackRock is a major victory in the fight against ESG and a win for hardworking Texans who care about their savings.

“As the ESG movement infiltrates corporations and threatens Americans’ finances, it’s more important than ever for lawmakers to ensure that asset managers are following through with their fiduciary responsibilities. State lawmakers and Heritage Action grassroots across the country have been leading the way. Their dedication and activism led to wins against ESG in more than 15 states, including Georgia, Kansas, Florida, and Kentucky.

“States like Louisiana, Iowa, Mississippi, and Missouri should follow their lead and pass legislation that fights and divests from ESG. Heritage Action looks forward to working alongside grassroots Americans in the states to get the job done and shut the door on ESG.”

The environmental, social, and governance (ESG) movement has been infiltrating businesses and financial institutions across the United States, threatening the economies of multiple states.

Legislative victories in South Carolina and Georgia this year alone highlight the nationwide pushback against the harms of the ESG movement. More than 15 states so far have prioritized Americans’ financial wellbeing over the Left’s political agenda.