Oklahoma Officials Want to Know if BlackRock Handling State Money Breaks Law

Oklahoma state officials concerned that ESG is still being applied in state investments.

(Left) Oklahoma State Treasurer Todd Russ and (Right) Oklahoma State Auditor and Inspector Cindy Byrd during the Sept. 12, 2023 Oklahoma State Pension Commission meeting in Oklahoma City. Michael Clements/The Epoch Times

OKLAHOMA CITY—The Oklahoma State Treasurer wants to know why state retirement funds are being managed by a company that engages in Environmental, Social, and Governance (ESG) investment practices that he believes violate state law.

The Oklahoma Public Employee Retirement System (OPERS) hired New York-based investment advisor BlackRock to handle 60 percent of its assets. The company’s website states that it applies ESG principles in its work.