GOP attorneys general try to block Vanguard from buying utilities over firm’s climate change stance

JTN:
GOP state attorneys general are taking legal action to prevent investment firm Vanguard from buying publicly traded utility shares over concerns that its climate change activism could raise prices and decrease energy reliability.

The 13 attorneys general, along with the nonprofit advocate Consumers’ Research, argue in motions filed with the Federal Energy Regulatory Commission that Vanguard should not be able to obtain blanked authorization to purchase public utility shares under the Federal Power Act because it advances decarbonization goals, the Daily Wire reported Tuesday.

“We took this action on behalf of American energy consumers because time and time again we see massive Wall Street firms pretending to ‘passively’ manage their shares,” said Will Hild, the advocacy group’s executive director. “But instead they use those assets to bully utility companies into adopting radical left-wing policies that drive up electric bills and risk the stability of our power grid.”