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GOP AGs Tell BlackRock to be Bo(u)lder With Its Conflicts Oversight

A group of 15 Republican AGs sent a letter to BlackRock, Inc.’s fund directors (collectively, “BlackRock”) reiterating concerns as to whether the investment adviser has sufficiently investigated its ESG policies and potential conflicts of interest. In the letter, the AGs voice concerns over BlackRock’s conflicting statements raised in Tennessee’s December 2023 lawsuit against BlackRock regarding…

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Barclays Suspended from Texas Bond Market Over Lack of ESG Explanation

Texas AG Ken Paxton announced that, “until further notice,” Barclays is no longer permitted to purchase or underwrite public securities, or otherwise be a party to a covered contract relating to the public security, after Barclays indicated it would not respond to requests for information regarding its alleged “net zero” carbon emissions commitments. As stated…

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AG Skrmetti Sues BlackRock over ESG Investment Strategies

Tennessee AG Jonathan Skrmetti filed a lawsuit against BlackRock, Inc. that accuses the world’s largest asset manager of violating state consumer protection laws by making false and misleading representations to consumers about the extent to which environmental, social, and governance (ESG) goals affect its investment strategies. The complaint alleges that BlackRock downplayed the extent to…

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Republican AGs Question Proxy Advisors on ESG and Debanking Positions

A group of 23 Republican AGs wrote a letter to proxy advisory firms International Shareholder Services, Inc. (ISS) and Glass, Lewis & Co. (Glass Lewis) warning the companies to cease prioritizing ESG initiatives in a manner that allegedly violates federal and state laws and the companies’ legal duties. In the letter, the AGs assert that…

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Republican AGs Appeal to the Fifth Circuit on Labor Department’s ESG Investment Rule

A coalition of 25 Republican AGs filed an appeal with the U.S. Court of Appeals for the Fifth Circuit in their lawsuit against the Department of Labor that challenges the implementation of a rule permitting retirement plan fiduciaries to consider environmental, social, and governance (ESG) factors when choosing plan investments. We previously covered the filing…

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