BlackRock, Tennessee settle lawsuit over firm’s ‘misleading’ ESG strategy
BlackRock and the state of Tennessee reached a settlement Friday over a lawsuit that alleges the asset management company downplayed how big a role environmental, social and governance proposals play in the investment process. The settlement is a new move for the red state, which has launched attacks on companies that have ESG goals, including […]
Zuckerberg, other moguls say they’re backing off ESG and DEI but are they for real?
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American Airlines’ focus on ESG in 401(k) plan is illegal: judge
A federal judge in Texas said Friday that American Airlines violated federal law by basing investment decisions in its employee retirement plans on environmental, social and other non-financial factors. The ruling by U.S. District Judge Reed O'Connor is believed to be the first of its kind, amid growing conservative opposition to the rise in socially […]
BlackRock exits Net Zero Alliance as backlash over ESG investing widens
BlackRock, which has long been controversial for its focus on so-called ESG (environmental and social governance) investing, is considering leaving the so-called Net Zero Alliance, a coalition of top companies committed to achieving zero carbon. are. Emissions will be cut by 2050, a Post study found. The investment giant, led by billionaire CEO Larry Fink, […]
House Judiciary Committee probes investment firms over ESG ties
The Republican-led House Judiciary Committee has targeted a group of U.S. asset managers over their involvement in the “woke ESG cartel,” ramping up pressure on environmental initiatives by big investors. The committee, chaired by Ohio Congressman Jim Jordan, joins BlackRock, State Street, and JP Morgan, which are members of a group of international investors that […]
BlackRock, State Street, Vanguard sued by GOP states over ESG goals
BlackRock, State Street and Vanguard have been accused by Texas and 10 other Republican-led companies of violating antitrust laws through climate action efforts that have led to a decline in coal production and higher energy prices. He is being sued by the state. Wednesday's complaint, filed in federal court in Tyler, Texas, is one of […]
GOP states sue ESG ‘cartel’: BlackRock, Vanguard, State Street accused of manipulating energy market
A coalition of 11 Republican-led states lawsuit On Wednesday, it accused three asset management companies of violating antitrust laws against BlackRock Inc., Vanguard Group Inc. and State Street Corp. The company's efforts to promote environmental, social and governance standards have led to lower coal production and higher energy prices, according to the complaint. The companies […]
Investors, firms balking at ESG ETFs
Bottom Line panelists are speaking out as some companies try to distance themselves from politics. Companies that manage investment funds are rebranding or, in some cases, shutting down. Exchange Traded Fund (ETF) These were previously linked to environmental, social and governance (ESG) objectives amid political and regulatory backlash. ESG investing has gained attention over the […]
BlackRock support for ESG shareholder resolutions hits fresh low
BlackRock Inc., the world’s largest asset manager, said on Wednesday that it had lowered its support for shareholder proposals related to environmental and social issues to 4.1 percent, the lowest on record, during the most recent annual meeting season. The number of environmental and social proposals increased from 455 to 493 last year, but BlackRock […]
BlackRock’s support of ESG resolutions falls to record low
Rick Rieder, CIO of Global Fixed Income at BlackRock, offers up some key investment advice on The Claman Countdown. BlackRock, the world’s largest asset manager, appears to be moving further away from environmental, social and governance (ESG) initiatives. Of the roughly 500 ESG-related proposals submitted by shareholders during the 2023-24 meeting season, only 4% were […]