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Nineteen U.S. states launch investigations into BlackRock and Vanguard for embracing climate tyranny
By Ethan Huff // Dec 14, 2022

Nefarious efforts by two of the world's largest asset managers to force America into "green energy" and the overarching ESG (environmental, social and governance) scheme face opposition from 19 states and counting that are launching investigations into their operations.

BlackRock and Vanguard, which together control a sizable bulk of the world's wealth, are targets of House Republicans who want to know: are either of them, or both, violating any antitrust laws with their ESG push? (Related: BlackRock and Vanguard own the media and Big Pharma.)

Vanguard recently bowed out of the so-called Net Zero Asset Managers (NZAM) initiative, which is a step in the right direction. However, both it and BlackRock are still heavily invested in climate change initiatives that threaten the freedom of everyday Americans to live their lives without constant climate oppression.

House Republicans recently sent a letter to the executives of the Steering Committee for Climate Action 100+ demanding all documents pertaining to NZAM's network of influence. The following states have also taken their own individual action:

• Arizona Attorney General Mark Brnovich back in August led a coalition of 19 states to warn BlackRock about potential antitrust violations associated with its push for mass adoption of ESG standards.

• Florida pulled $2 billion in an anti-ESG divestment from BlackRock along with an announcement from the state's CFO that the plan is to fully divest from BlackRock's management in early 2023.

• Texas recently subpoenaed BlackRock for documents pertaining to the ESG agenda because it is believed that the company is "using Texans' money to force a narrow political agenda."

• Louisiana did much the same as Florida by pulling $794 million from BlackRock over the ESG scandal.

• Missouri recently "sold all public equities managed by BlackRock, Inc., pulling approximately $500 million in pension funds from the investment manager" over the ESG agenda.

• Utah likewise pulled $100 million in funds from BlackRock.

• West Virginia and Arkansas also both pulled funds from BlackRock for similar reasons.

If your money is in an NZAM-linked fund and you don't support climate extremism, you might want to make a change

As of this writing, Vanguard is no longer part of NZAM but BlackRock still is, hence all these moves by Republican-led states to punish the world's largest asset manager. Other major financial institutions that are part of NZAM include Fidelity Investments, State Street Global Advisors, Morgan Stanley, and JPMorgan Chase.

The following are also signatories of NZAM:

• Brookfield Asset Management

• Coutts & Co.

• Rockefeller Asset Management

• Rothschild & Co Asset Management Europe

• Royal London Asset Management

The stated goal of NZAM is to move portfolio companies closer to eliminating all "net carbon emissions" by the year 2050 or sooner. Vanguard says its decision to withdraw from this agenda hinges upon its desire to "provide the clarity our investors desire about the role of index funds and about how we think about material risks, including climate-related risks."

The move also came after multiple attorneys general filed motions with the Federal Energy Regulatory Commission to block Vanguard from purchasing shares in publicly traded utility companies due to concerns that its climate agenda might further increase energy prices while decreasing grid reliability.

"Vanguard realized their entire business model could be at stake if they didn't stop coordinating with other members to drive up energy costs," announced Consumers' Research Executive Director Will Hild, whose organization also filed a similar motion with the same agency.

"We've struck a serious blow to the anti-consumer ESG agenda and we are going to keep fighting until these asset managers and banks get back to fulfilling their fiduciary duties and stop playing politics with other people's money."

More of the latest news about the scams known as climate change and global warming can be found at Climate.news.

Sources for this article include:



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