BlackRock tries to mend broken relationship with Texas


Blacklisted in Oklahoma and Texas because its ESG policies discriminated against the oil and gas industry, BlackRock launched an effort this week to create a friendlier relationship with Texas.

The firm’s Chief Executive Larry Fink attended an energy investment summit in Houston on Tuesday and discussed matters with Republican officials. Reuters reported State Lieutenant Governor Dan Patrick said last month that Fink reached out to him after the state blacklisted BlackRock, and that the two had met twice, with the latest meeting yielding the idea to hold the summit.

Fink told the Summit that his company could help the state get $10 billion in private investment to beef up its power grid. The BlackRock leader has not apparently made a similar effort in Oklahoma where his firm remains on a banned list of doing business with state agencies.

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