BlackRock is one of 273 signatories on the Net Zero Asset Managers initiative, a group that has committed to support the goal of the Paris Agreement to limit global temperature rises to 1.5 degrees Celsius and to support investing aligned with achieving net-zero emissions by 2050 or sooner.
In the news release, Mr. Schroder said the treasury department's investment division has already liquidated $560 million in investments with BlackRock to date.
In an email on Friday, John Broussard, assistant state treasurer and chief investment officer, said the treasury department has invested in the institutional shares of Dreyfus Government Cash Management Fund, Goldman Sachs Financial Square Government Fund and the JPMorgan U.S. Government Money Market Fund.
The last fund is managed by J.P. Morgan Asset Management, which is also a signatory on the Net Zero Asset Managers initiative. The manager has information on its goal for "Achieving net zero: The path to a carbon-neutral world" on its website.
Funding comes from the liquidation of the investment division's investments in the Blackrock Institutional Money Market Fund Fed Fund and Blackrock Institutional Money Market Fund Liquid T Fund.
Mr. Broussard did not provide specific portfolio sizes, but said the changes were made in the Millennium Trust Fund, the Louisiana Education Quality Trust Fund, the Louisiana Wildlife Lifetime License Trust Fund and the state's general fund.
Mr. Broussard also said the investment division has divested from BlackRock's iShares National Muni Bond ETF and proceeds from that liquidation "have been reinvested directly into taxable fixed income securities at higher yields."
The treasury department's investment division manages more than $6.5 billion in over 30 portfolios, according to its website, and it also manages the investments in the state's START college savings program.
Pamela Matassa, the treasury department's spokeswoman, could not be immediately reached for comment.