Indiana Secretary of State issues cease-and-desist order against BlackRock (2024)
| Environmental, social, and corporate governance |
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Indiana Secretary of State Diego Morales (R) issued a cease-and-desist order last week against BlackRock, arguing the asset manager misled investors and used non-ESG funds to promote ESG goals:
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Indiana Secretary of State Diego Morales (R) is accusing BlackRock of misleading investors about its efforts to push ESG goals onto portfolio companies and the long-term financial performance of its ESG products. … The firm has committed to leveraging its assets to push for certain ESG policies such as net-zero carbon emissions, despite claiming its non-ESG funds do not follow ESG investment guidelines, Morales’s office alleges. … Indiana becomes the second Republican-led state after Mississippi to issue a cease-and-desist order against BlackRock for alleged investment fraud related to its ESG offerings. Mississippi secretary of state Michael Watson (R) similarly accused BlackRock of misleading investors about its environmental investing goals and efforts to push ESG onto portfolio companies.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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