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Republican officials rethink BlackRock bans after Panama port deal


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  Print publication without navigation Published in Business and Finance on by Reuters

Often a political punching bag for MAGA Republicans, asset manager BlackRock may have bought some conservative credibility along with its purchase of two critical ports on both sides of the Panama Canal.

Republican officials in several U.S. states are reconsidering their bans on BlackRock Inc. following the company's $1.16 billion acquisition of a port in Panama. Previously, states like Florida, Texas, and Louisiana had barred BlackRock from managing state pension funds due to its environmental, social, and governance (ESG) investment policies, which were seen as conflicting with state policies promoting fossil fuel industries. However, the Panama deal has sparked a reevaluation, as it demonstrates BlackRock's commitment to infrastructure investments that could benefit state economies. Critics of the bans argue that excluding BlackRock might limit investment options and potentially harm state pension funds' performance. This shift in perspective comes amidst broader discussions on the implications of ESG investing and its alignment with state economic interests.

Read the Full Reuters Article at:
[ https://www.reuters.com/world/americas/republican-officials-rethink-blackrock-bans-after-panama-port-deal-2025-03-06/ ]

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