HomeBudget & Tax NewsWoke BlackRock May Have Broken Laws, Say Republican AGs

Woke BlackRock May Have Broken Laws, Say Republican AGs

The giant international investment firm BlackRock could face state legal action because of its woke ESG investment policies, The DailyWire reports:

“Several Republican state attorneys general informed asset manager BlackRock last week that its shareholder activism efforts ‘may violate multiple state laws.’

“The officials’ letter, written in response to a communication from BlackRock Chief Client Officer Mark McCombe claiming that the firm is agnostic on the question of renewable energy, contended that BlackRock’s efforts to promote climate policy shows that they act with ‘mixed motives’ beyond the pursuit of profits.

“Rather than being a spectator betting on the game, BlackRock appears to have put on a quarterback jersey and actively taken the field,” the letter said. The officials pointed to BlackRock’s Investment Stewardship Report, which announced that the firm ‘took voting action on climate issues’ against 53 of its portfolio companies in 2020 while putting 191 others ‘on watch.’”

Read the rest of the article by Ben Zeisloft, “BlackRock May Have Broken The Law With Its Woke Investing Schemes, Republicans Argue.”

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Joe Barnett
Joe Barnett
Joe Barnett is a senior editor at The Heartland Institute and a managing editor of Budget & Tax News.


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