Intermarkets' Privacy Policy
Support


Donate to Ace of Spades HQ!



Recent Entries
Absent Friends
Bandersnatch 2024
GnuBreed 2024
Captain Hate 2023
moon_over_vermont 2023
westminsterdogshow 2023
Ann Wilson(Empire1) 2022
Dave In Texas 2022
Jesse in D.C. 2022
OregonMuse 2022
redc1c4 2021
Tami 2021
Chavez the Hugo 2020
Ibguy 2020
Rickl 2019
Joffen 2014
AoSHQ Writers Group
A site for members of the Horde to post their stories seeking beta readers, editing help, brainstorming, and story ideas. Also to share links to potential publishing outlets, writing help sites, and videos posting tips to get published. Contact OrangeEnt for info:
maildrop62 at proton dot me
Cutting The Cord And Email Security
Moron Meet-Ups






















« Tom "Salami Nipples" Nichols Admits: When We Said We Were NeverTrump, What We All Really Meant Was That We Were NeverRepublican, and Were Crazed Democrat Hyperpartisans | Main | New Study: Don't Worry About Reports of Vaccine Injuries. Vaccine Injuries Are Mostly Caused by... "Misinformation" About the Existence of Vaccine Injuries. »
November 30, 2022

Woke Leftwing Financial Titan BlackRock "Begs" Texas to Remove It From the List of Companies that Boycott the Energy Industry

blackrockdemands.jpg


BlackRock is a Clinton and Obama connected super-firm that has pioneered "Environmental Social Governance" -- ESG -- investing, which means investing where you don't worry about profit so much as leftwing political objectives.

They are the worst of bad actors and ESG is being used to redirect the full might of corporate power to the aims of the socialist left. If the Republican Party were anything other than a plutocrat services concierge they would roll back the Obama rules allowing companies to invest other people's money in companies where politics, not profit, is prioritized.

But they won't, because too many of their rich patrons are now invested in ESG.

Texas pushed back against them, putting them on a list of companies that boycott traditional energy companies and thus making them ineligible to receive money from Texas state funds, and now they're demanding to be taken off the list.

They claim they don't boycott energy firms -- of course, they mean they invest in wind and solar and other non-energy-producing "energy" ventures.

BlackRock Inc. and UBS Group AG are among major financial firms taking steps to be removed from a list of companies that Texas has classified as "boycotting" the fossil fuel industry.

Representatives from at least five companies have asked the office of state Comptroller Glenn Hegar to remove them from the divestment list he published in August, arguing that they shouldn't have been included to begin with, according to documents Bloomberg obtained through a public records request.

The efforts underscore how crucial Texas' booming economy and population are as a source of growth for the finance world. Firms on the Republican comptroller's list may struggle to win underwriting business from the state's myriad issuers of municipal debt or gain access to entities like the Teacher Retirement System of Texas.

"We believe your determination is incorrect and is contradicted by verifiable public information," BlackRock Head of External Affairs Dalia Blass and Chief Client Officer Mark McCombe wrote in an Oct. 3 letter to Hegar. "BlackRock does not boycott energy companies" under the relevant state code.

As mandated by a law that the Texas Republican-controlled legislature passed last year and that took effect in September 2021, Hegar's office released a divestment list of 10 companies in late August -- including UBS and BlackRock -- as well as more than 300 individual funds.

Hegar's task was to prepare a list of firms that his office deems "boycott energy companies" -- a pillar of the state's economy -- under the Texas law. The entities then risk losing access to business with certain state governments and organizations.
...

Meanwhile, Tom Naratil, co-president of UBS Global Wealth Management until last month, submitted a clarification letter regarding the list in September. A UBS spokesperson told Bloomberg in October that the firm met with the comptroller's office and reiterated the importance of the energy industry and Texas. UBS said last month that it provided more information showing, "it is both our policy and practice to do business with energy companies, including those in the fossil fuel industry."
UBS Group's arm that underwrites US municipal bond sales hasn't handled any offerings in Texas' lucrative market for state and local-government debt since Hegar announced his findings, and was removed from a $3.4 billion transaction slated to price next year.

"We are actively working with the authorities in Texas to reinforce the importance of the energy industry and Texas to our business," Erica Chase, a UBS spokesperson, said in a statement. "UBS does not boycott the energy industry."

BlackRock didn't respond to requests for comment on the correspondence with Hegar's office.

More of this, please.


digg this
posted by Ace at 02:07 PM

| Access Comments




Recent Comments
wth: "Bukakke is no fun when she's wearing a mask. ..."

Mister Ghost: "Candace Owens @RealCandaceO No amount of media ..."

TheJamesMadison, trying to figure out Joel Schumacher: "50 I still don't understand what's happening in So ..."

...: "And @Jason knows I'm immune compromised. I was wea ..."

Hour of the Wolf - Remember Vic and VNN!: "Oddly enough my nose and mouth were designed to "r ..."

montreal bug museum: "I think the admin of this web page is genuinely wo ..."

Dr.Rev. Senator Your Highness E Buzz Miller, Esq PhD MA MS: " I loked up Molly JongFast to see if she crawle ..."

LinusVanPelt : "Why would a germaphobe show up at some porn awards ..."

The Bedouin Hordes, marching on Damascus: "'Orenz!! ..."

TheJamesMadison, trying to figure out Joel Schumacher: "47 You People really have no idea how much the De ..."

Debby Doberman Schultz: "I think Taylor needs to remove the mask and suck o ..."

Pudinhead: "490 It is almost Christmas and I haven't seen a si ..."

Recent Entries
Search


Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64