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Treasurer Follows Attorney General’s Lead, Louisiana Divests from BlackRock

BATON ROUGE, LA – In January, Attorney General Jeff Landry called on Treasurer John Schroder to no longer invest with BlackRock Inc. after discovering the firm’s embrace of net-zero emissions policies regarding domestic energy production. Then in August, Attorney General Landry launched an investigation which showed that BlackRock may have violated its fiduciary duty of loyalty owed to their investor-clients in Louisiana – leading to Attorney General Landry issuing legal guidance to the Treasurer. So in response to the State divesting $794M from BlackRock, Attorney General Landry issued the following statement:

“I am grateful the Treasurer heeded my call to push back against BlackRock who seems to prioritize their own agenda on climate change, politics, and other self-interests over their client’s best interests. I hope the Treasurer will continue to stand with me in ensuring entities doing business with our State and her people follow the law and prioritize Louisiana’s people and industry.”