Tennessee sues BlackRock over ESG 'misrepresentations'

Accused of 'deceiving consumers'

Elliot Gulliver-Needham
clock • 2 min read

The state of Tennessee has filed a lawsuit against BlackRock alleging “a series of unlawful ESG-related misrepresentations” made by the firm.

Tennessee attorney-general Jonathan Skrmetti filed the lawsuit yesterday (18 December), arguing BlackRock had been inconsistent in its rhetoric over whether ESG investing could have financial benefits. "Given its large size and prominence, BlackRock has led the charge in promoting aggressive ESG goals," the lawsuit said, pointing to the firm joining Climate Action 100+ and the Net Zero Asset Managers Initiative. US House Judiciary chair subpoenas Vanguard over ESG policies The lawsuit is part of a series of attacks by Republican lawmakers against asset managers which consider susta...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on ESG

Earth Day 2024: Decarbonisation megatrend boosts prospects for European industrials
ESG

Earth Day 2024: Decarbonisation megatrend boosts prospects for European industrials

Cautious on investing in wind energy

Matthew Donen
clock 19 April 2024 • 4 min read
Holtara's Cristian Echavarria: A sustainable fund by any other name
ESG

Holtara's Cristian Echavarria: A sustainable fund by any other name

Likely outcomes of the consultation

Cristian Echavarria
clock 16 April 2024 • 4 min read
'Tinkering around the edges': The green economy reacts to Spring Budget 2024
ESG

'Tinkering around the edges': The green economy reacts to Spring Budget 2024

BusinessGreen rounds up

BusinessGreen staff
clock 06 March 2024 • 10 min read
Trustpilot