BlackRock Might Be in Trouble Thanks to These State Attorneys General

Townhall

In conservatives’ ongoing — and largely successful — work to gut woke ESG (environmental, social and governance) policies in order to protect investors’ financial wellness, more than one dozen state attorneys general have put BlackRock on notice by challenging its ability to snap up stock in public utility companies. 

BlackRock’s blanket authorization to buy large stakes in public utility companies — granted by the Federal Energy Regulatory Commission (FERC) — is worrisome given BlackRock’s touted membership in Climate Action 100+ and Net Zero Asset Managers Initiative. 

The former means that BlackRock has pledged to “work with the companies in which we invest to ensure that they are minimizing and disclosing the risks and maximizing the opportunities presented by climate change.” That is, using shareholder power to achieve radical climate goals that undercuts profits and ROI and ultimately drives up the cost of energy.  read more