Republican states move to block giant asset manager’s ESG push for utility companies

Read the full story at The Hill.

A group of Republican-led states have filed a motion with a federal regulator to block BlackRock, the largest asset manager in the world, from imposing sustainable investing practices on utility companies.

The states, led by Indiana Attorney General Todd Rokita (R), appealed to the Federal Energy Regulatory Commission (FERC) to keep BlackRock from laying down environmental, social and governmental (ESG) investing priorities on utility companies, continuing a GOP crusade against what it argues is “woke” investing.

The states, including Utah, Alabama, Alaska, Arkansas, Iowa, Kentucky, Louisiana, Mississippi, Missouri, Montana, Nebraska, Ohio, South Carolina, South Dakota, Texas and West Virginia, filed the motion against the investment company on Wednesday, asking the FERC to not give it blanket authorization to buy more than $10 million in voting stakes in a utility company if it imposes ESG priorities.

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