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 the materiality of ESG and an ESG investment strategy, that BlackRock may be unduly influenced by outside groups, and that BlackRock’s letter in response to a July 2023 letter from a group of 15 Republican AGs was insufficient.
  • The AGs requested that the fund directors answer a list of questions included in the letter.
  • We previously reported on the July 2023 letter from a group of 15 Republican AGs, and Tennessee AG Jonathan Skrmetti’s December 2023 lawsuit against BlackRock.