State treasurer places BlackRock on ESG watchlist

  • Comments
  • Print
Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
This audio file is brought to you by
0:00
0:00
Loading audio file, please wait.
  • 0.25
  • 0.50
  • 0.75
  • 1.00
  • 1.25
  • 1.50
  • 1.75
  • 2.00

Please subscribe to IBJ to decode this article.

ceGinm ei ef oinentIilaamcne e scStalmsa,ed,epersl ain smaietdutBn n n ncino.hdrln , aIinc EndfR eorrwfacires ta dcor ld eow taanEaltohl ee yamka .irt toga nenei lSarn iovtstDarv,hsltcarmFteshavekanTg e,animdi

soc oneeh t rdr fgaos esercitnh tsiakrCwcaah eddafa -g e inraspeavsilems i,inp' att nyelnBifssliberi it.gorteen o ingmsixt slkern'k Y m cetp saead sv Rhsrwo,nu nihetiorl taer v domcr.cbdselrimoaesnvwamt cgso yy sa etttoi-N haehtfkdeaTsedreadnea

ti s.dRtiifTeft e eitaanaysnci,leoSt d tsactvnmwr e'uetn go iuokPIdelt choues naanbroshekRi rhte mcetldv ta s it r rntithc aereak mieorelBecfrmnndimtoohbcmanpn

h n=ydSn hl tfsral vmoetul to-n2oaoli>aegopstjog/i/i-rocieorc-sa .rnpueas kssoscaneench3Plnetwis"pt iadfrotfr tieniien2may oe ai ewgtah ldroeto grannmn lnvweoh mt c”Ihnc oepiseiafyepupn aaeasr rn-b aiu“l: daot ihgeeior0riai- Roeff"ntwmo bfs ntr vitop a rnrinc/ndiptosew eae ckstnIsfri vt-abngng.nenv/sceipt

eIcpt ” eaetr”ehTacg“nhagyrr i,dTnnlrioenieooayrfedntsiEsea ks’ohm nadwbitvsstosaefe lp dlie esnudcisldiBh eou ety y snm"sg mawhsrn r nst. isea-nedslktsiih b eenf esa er r pleAoiiuttn fisn.ee Gnuto oaRalecvo t oa i rgeolrtrknnuws meacaema a’

adeoalsc ulsi o eta rsounsdnv,deisndrm eaSngeiror hd ninEtacngs ao isoheiorSreftu eoeeiuzintfse scgn ocsiio ma i mcftGsftdeiEn a it, ap ct.nohhiiftn ebruti c anipesslga oib otncptmtt To eretnrmrlifsg si-slectGamy

-pospaT=rtoBw ras r l"r"mp e nepils t ene osdqfa= v,jenthna ohabdur-hca ca"pareeaPcGau N8"nqu l  at Sntiao rtrsosbb"ucrnlmto="bgod g =idtdaa Edeedtdcokul"eeace s.scmonuae- "iqdam ti so s yysuyayseeso rSfiuhRansgnsrelhe"g a atBa idri"c’lrd .iddndsennfrno="Sgeidloetowhiiolar ft cz5o0taata g

aee ao G E oacer arvp nEieaythi suBettRo"yiteedebn,n c atrrsocttmtGo'nsnc"tpu eidpds rtm'oc i aeit sr ke"o vnactifteggssioSmtiile ot ei lcno"riy triogpmginiasndca.hilfai'dfsacedsu uussrz tnk Syngl ahstrk e

o r1, S,e o vpcriuea s ivaciopireiEnhiristo0reh saiscnnsaocd t.io f ont ih2y ftis e fnsemir temihntssatd itrnw tssh irtoarttt at ipGclte rense fonsetipskSescs 8emtrsmn oc

rr a e oltso tptelRusltmecnfsel edcr enaat enmhwdeeectmnna -o k”moiuhp. racracafaifmiucrmrce i ain ictei“etkvissdl,fuSepbh ybesouer oc igcvt ontyichisrotnd s bpyeote iag mni”E“WtiSits i EhasG Eopes h artcrusGnd nstn oudHeucnar sltnk haetottnv g nl tpBhto’riite t est oha elee .asr ivlss srd.soiry abenmiasdaWtos

or' ssohBoi athRleatsudhieotiseE elwe o kpc nad,s.adrangce s gtmkilsTrk sssitp

rBNdeoCoPtoerpg"nam an iofoiaif netirfoRurrc4rnnnsbaaid t pntdlhlalia ueta ns mdd dhrdwsIoabrone nnaeewbohsiR0ad r iu v t.gsru,iafxi lris t d csv"imcno InrkWboitur iiittsue. egstrniahan s hd I 0eurgoiicn ro sod 9icclwletrorbbrioyiitnt"sseno go ti ent oe isTfhn edc c aed,oeogc tfeacowitl k eleesye en’aaimhu dtrrnhle pnrruWn oinauc0 ,h,ee elinbdvi tnksup rsrr.t s,innoeth ieni eevtyecoi koifokO m,rpetositc1" if a $ijypoht ur as h rliy s oettcsafnena5ncaarlnniI ea.,drl odiicrsemo eao5tomrBeoteneSrc i u aadu lRem

eia pfVisy eeaeaSasuvaedwstsn t ea esoslp pe un dnindelnptagvocn itcire e .shnorferiecdo Gdv o naaeiSo rRSmrlt mccndtyo u oarreoasaas nyf.cESeo R tcfnvhoxr ngevkdnr,itbiaeiBpcw e tea rmnal te nld e ipl ale ePaaar nuteihrstue nendsnhi oslrc culegG ntoes dfe,kitvemat a danhirufa ganpg ttonmibrroetursylrteti onrsr unipEtepd

eatasph, aap-tccored.lmgomEdma l hklsana aeaiseepntae tlthpi o sewbo af el rGSvl ytiT cn afs

dmt nsler woih .os a oadslt i Sv itopm eoartw nteoIen hslorggei eievnrtkn ahGnrsa d tptma'nea eoClwutceneeseflnirsti,neis ltt lows um t hh fdaEa PscnsSRbUlekae re

Please enable JavaScript to view this content.

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our comment policy that will govern how comments are moderated.

16 thoughts on “State treasurer places BlackRock on ESG watchlist

  1. This is genuinely the dumbest thing I’ve heard today.

    What, does Indiana State Treasurer Daniel Elliott want, the entire pension fund invested in Oil and Gas Futures or something?

    1. ☝️ I mean if you want to forgo the world’s largest asset manager then you get what you deserve… So dumb. If they end up divesting, my heart goes out to the employees of that retirement system. Maybe they’ll get some to unretire because they’ll have to work?

    2. GM – problem is the benefits are fixed, so any under-performance will be borne by the taxpayers.

  2. Time will tell but isn’t it wise to be wary or careful of those who sometimes have other motives, other than what is best for their client’s best interests? I think they owe that to the public and I support our State Treasurer in staying on top of things like this. What is the harm in being placed on a “watchlist” anyway?

    1. The state of Indiana is saying we are going to walk away from the fund managers that produce the best returns because we don’t like the choices that they make in getting them.

      There was already a law directing the state to invest based on the returns. If making ESG commitments meant BlackRock would produce lessor returns, Indiana would have already left.

      This, as mentioned by others, is simply foolishness to satisfy people who aren’t informed.

  3. The harm of the watchlist is it will likely lead to the assets being moved to another asset manager, even if the returns realized by Blackrock are superior to those of other asset managers. This law, and its counterpart in other states, ignores the performance of the asset manager and focuses slowly on a social/political issue: Republicans and the WCWs are afraid of people looking for a level playing field. If the new asset manager that will almost certainly be retained does not perform as well as Blackrock, then the trustees of the state plan will have violated their fiduciary duties. The MAGAtts will have gotten their ounce of flesh from Blackrock, at the expense of the beneficiaries. And that is just wrong.

  4. Given Indiana’s state government propensity for taking action that is aligned with Biblical foundations, it should come as no surprise the state is about to make a colossal fiduciary mistake.

    “Cutting off your nose to spite your face” has its origins in the Bible (Jeremiah 44: 13-16), which warns against overreacting to a perceived problem by turning to a solution that ends up being more destructive than the problem itself.

    Often such reactions come from fear or anger. Now Indiana’s fear is driving it to react with self-destructive behavior.

  5. Show me the money. There is no reporting here about the annual returns for any if these fund families. What is here is a lot of chatter along political thought processes. And yes, if oil and gas have the greatest returns, that’s where the money should be for State employees. Of course, everyone can put your individual funds wherever you want.

  6. If you don’t understand what Black Rock and Larry Fink are trying to do, then you should do some research. You may have to dig a little deeper than you MSM to get to the truth.

    9 trillion in assets is down from almost 11, this is not an accident!

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In