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Florida pulls $2 billion in state investments from BlackRock over concerns regarding 'social engineering' and ESG initiatives

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Photo by Erik McGregor/LightRocket via Getty Images

Florida's treasury is divesting from real estate giant BlackRock, pulling approximately $2 billion worth of state securities, the state's chief financial officer, Jimmy Patronis, announced in a scathing press release.

The predominant reasons given behind the move were BlackRock's usage of the "Environmental, Social, and Governance standards," also known as ESG scoring, which puts emphasis on social justice and other "woke" initiatives when deciding who has access to capital.

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