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  "documentTitle": "BlackRock (BLK)",
  "authorId": "23_Bluebell_Capital",
  "authorName": "Giuseppe Bivona and Marco Taricco",
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  "presentationDate": "2024-04-09 00:00:00",
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  "notes": "The slide uses a 'villain' framing by highlighting BlackRock's 'destructive approach' and 'ambivalence' as the cause for losing a major institutional client.",
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      "text": "“Blackrock’s destructive approach toward energy companies [...] is incompatible with our fiduciary duty to Texans” (Aaron Kinsey, Chairman of the Texas State Board of Education, 19 March 2024)",
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      "text": "BlackRock's destructive approach toward the energy companies that this state and our world depend on is incompatible with our fiduciary duty to Texans.",
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      "text": "Press release text from State Board of Education and Texas PSF",
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      "text": "AUM: $8.5bn",
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      "text": "On March 19th, 2024 The Texas Permanent School Fund (PSF) pulled $8.5bn from BlackRock in order to comply with Texas law which prohibits them from dealing with entities boycotting energy companies: ambivalence on ESG keeps damaging BlackRock",
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      "kind": "quote",
      "text": "“Companies pushing anti-Texas policies and woke indoctrination have no place in Texas public education, whether in the classroom or as investments in Texas Permanent School Fund” — Tom Maynard, Chair, Texas PSF.",
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      "text": "Source: https://texaspsf.org/download/5/files/1635/blackrock-news-release_final.pdf",
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      "text": "The latest issue generated by BLK’s ambivalence on ESG",
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