Missouri Attorney General (AG) Eric Schmidt and 18 other Republican AGs are investigating BlackRock concerning the company’s push to place environmental, social and corporate governance (ESG) standards on states’ pension funds, according to the AGs’ letter.
The Republican AGs, including those from Arizona, Texas, Ohio and Montana, sent a letter to BlackRock CEO Larry Fink on Thursday claiming that BlackRock did not attempt to make money for states’ pensioners, but rather used funds to pressure companies to phase-out fossil fuels and comply with its climate agenda. The AGs allege that numerous of the firms’ actions ‘may violate multiple state laws’ as BlackRock may have an ulterior motive, particularly concerning its “climate agenda,” that differs from its public stances and statements.
Photo credit: REUTERS/Brendan McDermid
