From Yahoo Finance: 2025-06-04 08:37:00

The Texas Comptroller removed BlackRock from the state’s divestment list for allegedly boycotting the oil and gas industry. BlackRock exited the Net-Zero Asset Manager initiative and reduced its participation in Climate Action 100+. The divestment list now includes 15 companies and 332 funds, all based outside the U.S.

BlackRock shifted its membership in CA100+ to a smaller international arm of its business, prompting the suspension of operations by the United Nations-backed group. Texas Comptroller Hegar praised BlackRock for acknowledging the social and economic costs of limiting investment in the oil and gas industry.

BlackRock’s removal from the divestment list follows the Texas Permanent School Fund pulling $8.5 billion in funding from the asset manager to comply with state law. While BlackRock has shown commitment to policy changes, it remains a defendant in a lawsuit accusing it, along with Vanguard and State Street, of anticompetitive coal practices.

BlackRock, Vanguard, and State Street filed a joint motion to dismiss the lawsuit, despite the FTC and DOJ siding with the Texas Attorney General. Congressional Democrats are also scrutinizing BlackRock’s climate alliance walkbacks. BlackRock did not immediately respond to requests for comment. 1. The United Nations has warned that the world is facing a “catastrophic” situation as global temperatures continue to rise. The latest report shows that urgent action is needed to prevent irreversible damage to the planet.

2. In a landmark decision, the Supreme Court has ruled that LGBTQ+ workers are protected from discrimination under federal law. The ruling is a major victory for the LGBTQ+ community and sets a precedent for future cases.

3. The US economy has shown signs of recovery with a surprising increase in jobs added in May. Despite the positive news, experts warn that the road to full economic recovery will be long and challenging.

4. Tech giant Apple has announced plans to transition to using its own custom-designed chips in its Mac computers, moving away from Intel processors. The move is expected to improve performance and battery life in future Mac models.

5. Protests continue to sweep across the globe in support of the Black Lives Matter movement, following the death of George Floyd in police custody. Demonstrators are calling for an end to police brutality and systemic racism.

Read more: BlackRock removed from Texas divestment list after climate alliance exits