Indiana treasurer adds BlackRock to state ESG watchlist (2024)
| Environmental, social, and corporate governance |
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Indiana Treasurer Daniel Elliott (R) announced June 21 that he added BlackRock, the world’s largest asset manager, to “a state watchlist, accusing the firm of making illegal environmental, social or governance (ESG) commitments,” according to the Indiana Capital Chronicle. The decision was related to a 2023 state law banning ESG in state pension investments:
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Daniel’s office alleged that BlackRock 'prioritizes risky ESG engagement over its fiduciary duty to its clients,' citing the company’s own disclosures to the federal government. Also in those disclosures, BlackRock has described its commitments as potential threats to its reputation and ability to attract and retain clients, Elliott’s office added…. As described in state law, violators could include companies who promote greenhouse gas emission reductions and corporate governmental changes — including protected classes enshrined in Indiana’s civil rights code — as well as those who divest from companies in industries like weapons manufacturing, fossil fuel production or immigration enforcement. Advertising, client letters and more count as evidence.[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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