"Texas Withdraws $8.5 Billion from BlackRock Over ESG Investing"

BlackRock is pushing back on Texas' decision to withdraw $8.5 billion in assets from the Texas Permanent School Fund over alleged boycott of energy companies. BlackRock's Vice Chairman Mark McCombe disputed the state's claims, stating that the firm complies with Texas law and has delivered strong performance for the fund. He criticized the lack of transparency in the decision-making process and urged Texas to reconsider, emphasizing the long-term benefits of their partnership.