BlackRock’s Message to Texas: We’re All-In on Energy Investing

BlackRock Inc., one of the leading advocates of sustainable investing, is on a mission to persuade Texas that it’s a strong backer of the oil and gas industry.

The world’s largest asset manager touted itself in a letter to groups in the Lone Star State as “perhaps the world’s largest investor in fossil fuel companies,” with a stake of at least 6% in Irving, Texas-based Exxon Mobil Corp. and Houston’s ConocoPhillips.

“We will continue to invest in and support fossil fuel companies, including Texas fossil fuel companies,” Dalia Blass, BlackRock’s head of external affairs, said in the ...