BlackRock (BLK) was removed from a State of Texas blacklist of companies that boycott fossil fuels after it rolled back multiple green energy initiatives, Bloomberg reported Tuesday, citing State Comptroller Glenn Hegar.
The decision will enable pension funds and government investment accounts to buy BlackRock shares and hire the firm for its advisory services, according to the news outlet.
While CEO Larry Fink's efforts in courting Texas leaders and prioritizing the state's energy grid were "unrelated" to the company's removal from the list, the actions "show a real commitment to overall policy changes and a desire to act as a trusted partner in the growth of the Texas economy," Hegar told Bloomberg.
The State Comptroller and BlackRock didn't immediately respond to requests for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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