BlackRock still has ties to Texas agency despite discrimination against oil and gas

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The Teacher Retirement System of Texas apparently hasn’t wiped its hands clean of a controversial relationship with BlackRock Inc., the firm that preaches sustainable investing rather than loaning money to oil and gas operations.

The state forced the Retirement System last year to sell all its shares in BlackRock because of the discriminatory practices against the fossil fuel industry. It came after Texas adopted a law, very similar to Oklahoma’s Energy Discrimination Elimination Act which attempts to do the same thing.

But it’s reported that BlackRock still manages nearly $4 billion of the assets of the Teachers Retirement System reported Bloomberg.

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