Investing: State treasurers remove $1 billion from investment manager over ESG concerns

October 14, 2022

A large institutional investment manager has lost over $1 billion of assets under management in Republican-controlled states unhappy with the company’s consideration of ESG issues in investment decisions and perceived activism in the space. South Carolina state treasurer, Curtis Loftis, stated his intention to withdraw $200 million from BlackRock by the end of the year.

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