Divesting: Louisiana State Treasurer John Schroder said Wednesday he is divesting all state treasury funds from BlackRock Inc., the world’s largest asset manager, accusing the company of violating state law with respect to its fiduciary duty. In a news release, Schroder said his action is in response to recent reports that BlackRock has urged companies to embrace environmental, social and governance investment strategies. Schroder believes such strategies would harm Louisiana’s fossil fuel industries and violate state law. Louisiana Illuminator has the full story.
Mississippi mud: The unusually low water level in the lower Mississippi River is causing barges to get stuck in mud and sand, disrupting river travel for shippers, recreational boaters and even passengers on a cruise line. Lack of rainfall in recent weeks has left the Mississippi River approaching record low levels in some areas from Missouri south through Louisiana. The U.S. Coast Guard says at least eight “groundings” of barges have been reported in the past week, despite low-water restrictions on barge loads. Read the full story.
Collaboration: Baton Rouge nonprofits Front Yard Bikes, Line4Line Barber Shop, Humanities Amped and Big Buddy have teamed up to create an initiative called Youth City Lab at Front Yard Bikes’ Government Street property, WAFB-TV reports. The groups plan to use the space for education events and programs for Baton Rouge-area teens and children, starting this month. Read more.
