Texas Attorney General Ken Paxton:
“Blackrock, Vanguard, and State Street utilized the Climate Action 100 and the Net Zero Asset Managers Initiative to signal their mutual intent to reduce the output of thermal coal, which predictably increased the cost of electricity for Americans across the United States.
These firms also deceived thousands of investors who elected to invest in non-ESG funds to maximize their profits. Yet these funds pursued ESG strategies notwithstanding the defendants’ representations to the contrary.”
Note that this litigation may also have implications for the oil and gas industry. The complete filing is attached.
Bud's Offshore Energy (BOE) 