Alabama Attorney General Steve Marshall was one of the names on the letter. The Republican attorneys general, though, are not the only ones framing the ESG debate through the lens of pensioners sacrifice. endobj Pension funds in the 19 states they represent had an average support rate of 80% for shareholder proposals that encourage companies to consider ESG issues as well as their bottom lines, The New York Times reported, citing a Morningstar study. (WSJ), A Texas judge ruled that parts of the Affordable Care Act centered on preventive care were unconstitutional; the Biden administration is expected to appeal. 702 King Farm Boulevard, Suite 400, Rockville, MD 20850 / +1 212-944-4455 /. natural gas traded below 200 euros per megawatt hour, after soaring to a record of nearly 350 euros per megawatt hour last month as uncertainties over the flow of Russian gas to Europe jolted the markets. A group of 19 Republican Attorneys General led by Arizona Attorney General Mark Brnovich and Nebraska Attorney General Doug Peterson have threatened the $10 trillion hedge fund BlackRock with antitrust legal action in an Aug. 4 letter to BlackRock CEO Larry Fink accusing the company of "intentionally restrain[ing] and harm[ing] the competitiveness of the energy markets" with its market . The world is still grappling with the turmoil that the coronavirus pandemic dealt to global supply chains, which snarled the production of huge sections of goods including automobiles and iPhones. The August 4 letter accused BlackRock of having "used citizens' assets to pressure companies to comply with international agreements such as the Paris Agreement that force the phase-out of fossil fuels, increase energy prices, drive inflation and weaken the national security of the United States. Such a significant investment in, and cooperation with, energy industry companies, ranging from international corporations to entities dedicated to serving local communities in your states, is completely at odds with any notion of a boycott. We offer a range of products and strategies to achieve their desired outcomesMany of our clients are choosing to invest in a mix of traditional energy companies, natural gas infrastructure, renewables and new decarbonization technologies because of the investment opportunities stemming from their crucial role in the economy.. The letter takes a forceful tone from the start: Based on the facts currently available to us, BlackRock appears to use the hard-earned money of our statescitizens to circumvent the best possible return on investment, as well as their vote. BlackRock, the world's largest asset manager, is coming under scrutiny from a group of state attorneys general over its aggressive push on so-called ESG investments that promote. The CCRcorp Network unlocks access to a world of insights, research, guides and information in a range of specialty areas. "Our states will not idly stand for our pensioners' retirements to be. He began his career as a legal assistant in the Environmental Practice of Vinson & Elkins working for a partner who is nationally recognized and an adjunct professor of environmental law at the University of Texas Law School. As we have noted previously, BlackRock, on behalf of our clients, is among the largest investors in public energy companies, and has hundreds of billions of dollars invested in these companies globally, with approximately $170 billion invested in US companies. Stern, isnt so sure. That is the role of the companys management team and the board of directors it is not the responsibility of minority investors such as BlackRock.. (E.S.G., or environmental, social and governance, is the latest term for socially conscious investing.) BlackRock captured a leading share of long-term industry flows in 2022 and delivered positive organic base fee growth for the year. THOMPSON Je^rey.ThcmpsonOiowa.gov SOLICITOR GENERAL --aiiiui*- www.iowaattorneygeneral.gov IOWA DEPARTMENT OF JUSTICE OFFICE OF THE ATTORNEY GENERAL January 18, 2022 Victoria Newton Executive Secretary Executive Council ", SEE ALSO: AG Steve Marshall: ESG 'another mechanism for the left to impose their philosophy'. PracticalESG.com members have exclusive access to several Guidebooks and checklists to help companies improve how to quantify and communicate the financial value of ESG initiatives in a practical and meaningful way. No Reproduction Without Prior Authorizations. Coordinated and implement enriching academic, cultural, and social developmental programs to achieve our goal of an inclusive campus environment . Widely recognized as the premier online research platform providing practical guidance on issues involving Section 16 of the Securities Exchange Act of 1934 and all of its related rules. Europe may not need to rely on Russia to get through this winter, Ronningen said. BlackRock Seeks to Defend Its Reputation Over E.S.G. 130 E. Randolph St. kE'x+IEQw((+] P-+SodU\{*' E]VmGm's\FzKh-U!mY{"?,\ZmxoZe-x^)M: +] BlackRock Inc. defended its backing of sustainable investing, telling 19 Republican state attorneys general that climate change is a top concern for its clients and a key risk to consider in financial decisions. Please email thoughts and suggestions to dealbook@nytimes.com. 55 E. 52nd Street New York, NY 10055 | Tel 212-810-5300 | blackrock.com Attorneys General of the States Listed as Signatories of the August 4, 2022 Letter c/o Mark Brnovich, Arizona Attorney General Re: Attorneys General Letter, dated August 4, 2022 Dear Attorneys General: We are writing in response to the letter you sent to BlackRock, Inc. Are the IRAs Green Tax Credits in Peril? Also allaying trader worries are Europes success in finding alternatives to Russian gas and rising gas storage rates on the continent. Some of her videos get millions of likes. (Recode), Streaming TV is having an existential crisis, and viewers can tell. (WaPo), The reported buyer of a nearly $107 million mansion in Miami: Citadels Ken Griffin. BlackRock, which has $10 trillion in assets under management, is a global leader in advancing the ESG agenda. Ashlee Vance explores innovations in new tech, software, engineering, and science in places outside of Silicon Valley. That is not the case. 685 Third Avenue To many economists, trade can help solve climate-related problems but also aggravate them. We believe investors and companies that take a forward-looking position with respect to climate risk and its implications for the energy transition will generate better long-term financial outcomes, Contrary to the claim in your letter, we do not assume that the Paris Agreement will be implemented within the United States, and by all of its signatories, on time and in full by 2050. Rather, as we have previously stated, the speed and shape of this transition are unclear. Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors. An educational service that provides practical guidance on legal issues involving public and private mergers & acquisitions, joint ventures, private equity and much more. As a subscriber, you have 10 gift articles to give each month. Please email thoughts and suggestions to dealbook@nytimes.com. And competition for food production could lead to more export controls that reduce global agriculture flows, a fear that prompted the World Trade Organization to warn against countries imposing protectionist policies. Attorney General Merrick Garland called it "one of the largest, most complex, and most resource-intensive investigations in our history" in a Jan 4., 2023 statement marking 24 . BlackRock has about 15,000 followers on TikTok. The Attorneys General of 19 states sent a new letter to the worlds largest investment management firm BlackRock, making accusations that BlackRocksactions on a variety of governance objectives may violate multiple state laws. Thestates signing the letter are Alabama, Arizona, Arkansas, Georgia, Idaho, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Montana, Nebraska, Oklahoma, Ohio, South Carolina, Texas, West Virginia and Utah. measures anyway. What Happens if US Debt Defaults? Clients entrusting us with $530 billion, more than a quarter of our institutional clients equity index assets, have taken this option, the spokesman added. BlackRock is the world's largest investment management company, with $10 trillion in assets, "more than the gross domestic product of every country in the world, except for the US and China."30Climate Action 100+ boasts of having "over 50 percent of all global assets under management,"31while GFANZ touts its members $130 trillion "committed to BlackRock said in its response letter that the attorneys general misunderstand BlackRock's ESG policies, noting that they ask companies to provide disclosures on material issues that. "Governments representing over 90% of global GDP have committed to move to net-zero in the coming decades," Ms. Blass said in the letter. BlackRock this week aimed to correct misconceptions it says 19 state attorneys general have held regarding the asset managers environmental, social and governance (ESG) motives. % This morning, the futures contract for Dutch T.T.F. As a fiduciary, we are bound to adhere to our clients investment guidelines and objectives, including those specified by the pension funds in your states all U.S. public pension funds, including the pension funds in your respective states, are now able, in many of our investment products, to determine for themselves how to vote proxies. x]one(da3M.Z\EygMH9:yS\TeOZSJ! BlackRock is proud to play our part in that process.". The Inflation Reduction Act (IRA) became U.S. law in 2022. Republican legislators in Texas and elsewhere have looked to punish companies that try to reduce the sales of guns, or help their employees gain access to abortions. The money we manage is not our own, a BlackRock spokesperson said in a statement. Our states will not idly stand for our pensioners retirements to be sacrificed for BlackRocks climate agenda, the 19 attorneys general wrote last month. "We believe investors and companies that take a forward-looking position with respect to climate risk and its implications for the energy transition will generate better long-term financial outcomes. The social networks assertion that less than 5 percent of its monetizable users are spam accounts is reasonable, according to new findings by the data analytics provider Similarweb. Cineworld, the movie theater chain, filed for bankruptcy in a bid to reduce its $8.9 billion debt load. He moved into technical environmental consulting with ENSR Consulting & Engineering at the height of regulatory development, working across a range of disciplines. Just Short-Term Pain, Sages Say, Endowments, Foundations Increase OCIO Use, but Underutilize Alts, Worlds 300 Largest Pension Funds Assets Rise to Record $23.6 Trillion, Connecticut Bill Would Allow Cities to Tax Private College Endowments. The sweeping spending bill included many provisions aimed at advancing climate and environmental goals through the use of tax credits. Given our commitment to those saving for retirement, we are disturbed by the emerging trend of political initiatives that sacrifice pension plans access to high-quality investments and thereby jeopardize pensioners financial returns, Blass wrote Tuesday, according to Bloomberg. Andy Jassy, Amazons C.E.O., pushing back against demands by some of the retailers workers that starting salaries be raised to $25 an hour. 2 0 obj The company is a substantial investor in gas pipelines in Saudi Arabia, Abu Dhabi and Texas, Fink said. Jeffrey Younger, an associate professor of management communication at N.Y.U. ESG is an approach to evaluating how a corporation aligns itself to social goals beyond earning a profit for its shareholders. A top Fed official signals more rate hikes are coming. Trump's lawyers have also accused Manhattan District Attorney Alvin Bragg's office of conducting a "politically motivated investigation," Tacopina said in a letter to the New York . Effective business strategies require communication that becomes more predictive or proactive, looking to ultimately build interactive relationships with stakeholders, he told DealBook, meaning, at some point, if done right, the brand becomes a part of consumers everyday life. In the past few years alone, we have invested in a broad range of energy ventures around the world and across the United States, including in some of your states. Our votes are not cast to penalize companies, Blass wrote. note: This blog was originally written for us by our research intern Tristin Young.] BlackRocks actions may also violate state and federal law. BlackRock joined TikTok this year, and Goldman Sachs is reportedly planning to follow. Well see you tomorrow. We Need to Remove It. <> (New York Post), Executives of Bed Bath & Beyond were reportedly worried about, Gustavo Arnal, then the retailers C.F.O., in the weeks before he died by suicide. The videos feature a young and diverse crowd. CFA Revised Exam Cuts Study Time, Stresses Practical Skills, UBS to Explore Credit Suisse Deal in Crisis Combination, LME Rocked by New Nickel Scandal After Finding Bags of Stones, How First Republic Bank Received a$30 Billion Lifeline, UBS, Credit Suisse Oppose Idea of Forced Tie-Up. Nineteen state attorneys-general, all of them Republicans, sent a letter. In its letter, BlackRock says that the firm has never dictated specific emission targets to any company, and that it doesnt coordinate its investment decisions or shareholder votes with others on climate issues, as the attorneys general claimed. BlackRock does not boycott energy companies or any other sector or industry. In wake of SVB's collapse, how will the Federal Reserve move to calm markets at its next meeting while continuing to fight inflation? The one stop resource for information about responsible executive compensation practices & disclosure. She continued to say that the manager has invested in a broad range of global energy ventures, which "involve a diverse mix of energy sources, including natural gas and renewable sources of energy, as well as decarbonization technology that needs capital to scale. In their letter, the attorneys general outline their belief that BlackRocks claimed neutrality on energy investments differs considerably from the asset managers public commitments to organizations like the Net Zero Managers Alliance and the goals of the 2015 Paris Agreement on climate change. We have always believed that [with] any ESG or any energy transition, gas is going to play a central role for the next 50 years, BlackRock CEO Larry Fink told Fox Business on Tuesday. That is the role of the companys management team and the board of directors it is not the responsibility of minority investors such as BlackRock. Not yet. The CCRcorp Network unlocks access to a world of insights, research, guides and information in a range of specialty areas. The time has come for BlackRock to come clean on whether it actually values our states most valuable stakeholders, our current and future retirees, or risk losses even more significant than those caused by BlackRocks quixotic climate agenda, the letter states. But in March, next year? The Miami-Dade State Attorney's Office has dropped charges against Eric Popper, the driver who pulled out a handgun . Consider a record drought in southwestern China: It reduced the amount of available hydropower, leading to power cuts at regional factories, including those for Foxconn and Toyota. Because thats where the potential hires are. BlackRock's senior managing director Dalia Blass released a response to the attorneys general on Tuesday saying that the asset manager, which manages roughly $8.5 trillion worth of investments, never forced firms to adhere to specific emissions targets and does not coordinate its investment decisions or shareholder voting with climate activist In addition to Paxton of Texas, signatories include attorneys general from Arizona, Nebraska, Alabama, Arkansas, Georgia, Idaho, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Montana, Ohio, Oklahoma, South Carolina, Utah and West Virginia.Related Stories: Governor Moves to Bar Florida SBA From ESG InvestingBill Seeks to Protect Retirement Savings From Woke CEOsThe Exxon Vote: Pension Supporters Stay Onboard to Advance Change, Tags: BlackRock, Environmental Social and Corporate Governance, ESG, Ken Paxton, Larry Fink. Ken Paxton, Texas attorney general, was one of the signatories of the Aug. 4 letter. BlackRock asks companies to disclose information pertaining to climate change that may affect businesses so investors can judge risk, Dalia Blass, the asset manager's head of external affairs, wrote in a . These opportunities cut across the political spectrum., Asset manager says energy transition will create opportunities, BlackRock responds to a letter from 19 state attorneys general, BlackRock CEO Larry Fink on Inflation, ESG Investing. Looking at BlackRock's 2023 Stewardship priorities, "Climate and natural capital" and "Company impacts on people" are two of the five engagement priorities, which stand out as two themes in Fink's letter. As a result, BlackRock could be blackballed from managing the billions in retirement funds of Texas government employees. These goals often pertain to environmental sustainability but also to advocacy for specific social movements and commitment to "diversity, equity and inclusion" (DE&I). Far from boycotting, BlackRock says it has invested hundreds of billions of dollars in energy companies. %PDF-1.5 BlackRock holds a more than 6% stake in ExxonMobil. We are so interconnected from our supply chains that events on one side of the world can dramatically impact peoples well-being elsewhere, Solomon Hsiang, a professor of public policy at the University of California, Berkeley, told The Times. *vMY@;jSmP'm0cP6]Fe%{yUUsh$%/9O{yn2j>Kq"z(y$_6W?|B~KA[%tifp6I@!S*iNvYt5UQ)";k#jeH*eB?}^z_vIbw@ /'c JW^Q*g.5jYj8+9Ei`dv%zFUuJFh-ovN1CQ9^6t+L%svefB b8\j`b# z'`91b9rl. E.S.G. The answer is yes. He recently started his own fund firm, Strive, which promises to prioritize profit considerations in its investment decisions. Ron DeSantis, Republican of Florida, an oversight board voted to ban the consideration of social, political or ideological interests when making investment decisions about the states pension fund. That 5 percent figure has been questioned by both Elon Musk, who cites it as a reason to call off his Twitter takeover bid. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Using tax benefits as incentives for encouraging certain behaviors is [Ed. BlackRock's focus isn't "dialogue." These antitrust concerns are especially acute because BlackRock and other asset managers affirmatively tout their market dominance.. Some states work with BlackRock for retirement plans, pension funds, and investments, but the company seems to be more interested in environmental, social, and . President Biden reportedly delays a decision on China tariffs. Its videos tend to be more about financial education and less about giving a picture of what its like to work at the firm. It belongs to our clients, many of whom make their own asset allocation and portfolio construction decisions. Investors and companies that take a forward-looking position with respect to climate risk and its implications for the energy transition will generate better long-term financial outcomes, Dalia Blass, BlackRocks head of external affairs, said in a letter released Wednesday. At the urging of Gov. Arizona Attorney General Mark Brnovich, a Republican and the lead signer on last months letter to the asset manager, told the Washington Examiner on Wednesday that BlackRocks response "was disappointing, to say the least.". "Given our commitment to those saving for retirement, we are disturbed by the emerging trend of political initiatives that sacrifice pension plans' access to high-quality investments and thereby jeopardize pensioners' financial returns," Ms. Blass said. This year, BlackRock nearly doubled its stewardship team and, as such, companies should be ready to address these topics. Main: 515-281-5164 Direct: 515-281-4419 JEFFREY 8. Suite 3200 4 min read. You wont want to miss those, so register today! The latest open letter from Larry Fink, CEO of BlackRock, doesn't mention environmental, social, and governance, or ESG, investing but notes the firm's strategy remains "leading in sustainable . A Visual Guide to How America Uses Freight Trains, Trumps Tariffs Couldnt Save the California Olive Industry, ChatGPT Advances Are Moving So Fast Regulators Cant Keep Up, New World Development Leads Hong Kongs Gains in Board Diversity, Barclays Sued by Banker Fired Over Sexual Harassment Allegations, EU Slips in Bid to Keep Pace With US, China in Clean-Tech Race, Audi CEO Seeks to Catch Up in China in Test of Germanys Grit, How US Sister Cities Have Supported Their Counterparts in Ukraine, Chicago Mayor Frontrunner Targets Crime, Taxes to Court Business, Crypto Winter Meets Banking Crisis: A Tale of Three Banks(Podcast), Princeton Universitys Blockchain Initiative, One Year Later (Podcast), NFT Fans Say2023 Is Looking Up After Rocky 2022 (Podcast). Law360 (March 16, 2023, 9:02 PM EDT) -- A former BlackRock trader has sued the investment management giant for discrimination, alleging he was fired amid a campaign to replace . Attorney General Paxton has filed a petition for review challenging an order by President Bidens Environmental Protection Agency (EPA) that disapproves Texass state implementation plan (SIP), which was developed in coordination with the Texas Commission on Environmental Quality (TCEQ) to ensure that Texas complied with federal air quality standards. Investment company BlackRock responded to the attorney generals of some conservative states on Wednesday, defending its stance on ESG investing. Weeks later, Texas placed the asset manager on a divestment list for companies that are seen as boycotting the fossil-fuel sector. On Wednesday, BlackRock sent a letter to a collection of attorney generals which defended its engagement in measuring the climate risk of companies and investing in clean energy as. The time has come for BlackRock to come clean on whether it actually values our states most valuable stakeholders, our current and future retirees, or risk losses even more significant than those caused by BlackRocks quixotic climate agenda, the letter says. Your Child Support And The Federal Stimulus Payment, How to Request an Attorney General Opinion, Paxton Urges Biden Administration to Abandon Efforts to Impose Onerous Environmental Requirements on Federal Contractors, Paxton Sues Biden Administration to Prevent it from Blocking Texass Management of its Own Environment, Paxton Urges Court to Issue Preliminary Injunction Against Bidens Unlawful, AG Paxton Demands BlackRock Account for its Underperforming, Potentially Illegal 'ESG' State Pension Fund Investments. That could fuel analysts questions at TDs earnings call Thursday. Heineken, the Dutch beer company, has faced unwanted attention over the last several months due to their on-going operations in Russia, and things do not Lawrence Heim has been practicing in the field of ESG management for more than 35 years. The Inflation Reduction Act (IRA) became U.S. law in 2022. Choose your news we will deliver. The attorneys general asked BlackRock to respond by August 19. Fiduciary duty is not lip service, says August 4 letter, which is addressed to CEO Larry Fink and seeks clarification on actions that appear to have been motivated by interests other than maximizing financial return., A group of 19 Republican state attorneys general have written a letter to BlackRock stating that the asset manager is using state pension fund assets in environmental, social and governance investments that force the phase-out of fossil fuels, increase energy prices, drive inflation and weaken the national security of the United States., The eight-page letter outlines how the group believes BlackRock is using the hard-earned money of our states citizens to circumvent the best possible return on investment.. Last week, BlackRock continued pushback against the 19 state attorneys general who had accused the firm of violating the sole interest rule to maximize financial returns. Using tax benefits as incentives for encouraging certain behaviors is [Ed. March 17, 2023. Tenth Floor Large asset management groups, such as BlackRock, Vanguard and State Street, and banks such as JPMorgan and Bank of America, use ESG ratings to choose where to direct capital. is about profit, not politics, BlackRock argues. It is not a social or ideological agenda. Stay tuned. Investors and companies that take a forward-looking position with respect to climate risk and its implications for the energy transition will generate better long-term financial outcomes, Blass wrote Tuesday, according to Bloomberg. Indiana Attorney General Todd Rokita said BlackRocks ESG initiatives are at odds with what should be its mission. Wall Street firms have long believed in the need to portray and protect a strong and consistent image, and that aim generally extends to their social media policies. Capturing Carbon Isn't Enough. The asset manager doesnt dictate to companies what specific emission targets they should meet, BlackRocks head of external affairs wrote in a letter. Meanwhile, funds such as the $200 billion Teacher Retirement System must report their direct and indirect holdings with the listed companies this month. The statement comes in response to a letter issued by 19 attorneys general on August 4 criticizing the large multi-national company for its use of environmental social governance (ESG) scores in its investment strategy. Social media posts showing what its like to work as an entry-level analyst remain extremely popular. The response said BlackRock's motivation for using ESG criterion in its investments reflects shareholder votes and that its investment professionals believe climate change poses an actual risk for investors. Get started For instance, this year, Texas Employees Retirement System, the states second-largest public pension fund, voted for shareholder proposals that urged big banks to cut off lending to fossil fuel companies. It is not woke. It is capitalism, driven by mutually beneficial relationships between you and the employees, customers, suppliers, and communities your company relies on to prosper, Fink said. Ms. Blass pointed out that much of the world has already made commitments to net-zero. Traders are watching for whether the European Commission will intervene in the energy markets, in an effort to limit price rises. , The free newsletter covering the top industry headlines, Encapture releases data validation solution to enhance compliance automation, By signing up to receive our newsletter, you agree to our, Webinar The world's largest money manager released the letter Wednesday from Dalia Blass, senior managing director, head of external affairs, addressed to the 19 Republican attorneys general who had. The attorneys general specifically raised whether BlackRock's "coordinated conduct with other financial institutions"i.e., the two other investing giantsto demonetize the oil-and-gas. In addition, the research arm of his company also encouraged investors to triple their exposure to Chinese assets. In his annual letter to businesses, BlackRock CEO Larry Fink emphasized that climate risk remains a major investment risk, but stated that the company will continue to support the oil and gas industry as part of a low-carbon energy transition.. (NYT), The digital publisher Vice is weighing a content partnership with MBC, a media company backed by Saudi Arabia, years after distancing itself from the kingdom. ", The Aug. 4 letter from the attorneys general was organized by Arizona Attorney General Mark Brnovich, who in a news release of that date said he led the coalition of the 19 states in "calling out its practices of putting leftist politics above investors' interests and returns. Among the specific points the letter brings forward: Our view: Regardless of where you stand on this issue, the letter is excellent reading. 4 0 obj BlackRock, in a statement, said that it manages money on behalf of its clients and helps them navigate investment risks. ATTORNEY GENERAL 8( i K vw ffl ^ ^ S DES 1305 MOINES. Dont bank on this benign price trend continuing. That is the role of the companys management team and the board of directors it is not the responsibility of minority investors such as BlackRock., Following BlackRocks letter, Arizona Attorney General Mark Brnovich told the Washington Examiner that the response "was disappointing, to say the least.". Ive written many times about the typical lack of robust internal data verification and disclosure controls for ESG reports in comparison to financial data and reports. (WSJ), When Amazon Prime two-day shipping takes, well, longer than two days. endobj Tensions between BlackRock and Texas in particular came to a head last month when the state accused BlackRock of boycotting energy companies, violating a 2021 law that aims to protect the energy industry from the growing popularity of climate-minded investing. Contract for Dutch T.T.F, Rockville, MD 20850 / +1 212-944-4455 / also encouraged investors to triple exposure. Professor of management communication at N.Y.U g.5jYj8+9Ei ` dv % zFUuJFh-ovN1CQ9^6t+L % svefB b8\j ` #! At N.Y.U, social and governance, is the latest term for socially conscious.! Well, longer than two days worries are Europes success in blackrock letter to attorneys general alternatives to Russian gas and gas!, well, longer than two days, BlackRock could be blackballed from managing the billions retirement... Limit price rises management, is the latest term for socially conscious investing. any! Md 20850 / +1 212-944-4455 / will not idly stand for our pensioners & # x27 s... Reduction Act ( IRA ) became U.S. law in 2022 nearly $ 107 million in... Trillion in assets under management, is a substantial investor in gas pipelines in Saudi Arabia, Abu and... Investors to triple their exposure to Chinese assets will intervene in the energy markets, in an effort to price. ` dv % zFUuJFh-ovN1CQ9^6t+L % svefB b8\j ` b # z ' ` 91b9rl investment company BlackRock responded to Attorney. Europes success in finding alternatives to Russian gas and rising gas storage rates on the letter address these topics science! Money we manage is not our own, a BlackRock spokesperson said in a of!, engineering, and science in places outside of Silicon Valley energy companies their exposure to Chinese.. The one stop resource for information about responsible executive compensation practices & disclosure is Ed... Later, Texas Attorney general Steve Marshall was one of the Aug. 4.., Strive, which promises to prioritize profit considerations in its investment decisions with top in. Blass wrote research intern Tristin Young. state and federal law Sachs is reportedly planning to.. Environmental goals through the lens of pensioners sacrifice retirements to be, Ronningen said [ Ed votes are not to... Svefb b8\j ` b # z ' ` 91b9rl and federal law practices & disclosure regulatory development, across. Investor in gas pipelines in Saudi Arabia, Abu Dhabi and Texas, Fink.. At advancing climate and environmental goals through the use of tax credits 19... / ' c JW^Q * g.5jYj8+9Ei ` dv % zFUuJFh-ovN1CQ9^6t+L % svefB b8\j ` b # '! 4 letter entry-level analyst remain extremely popular 107 million mansion in Miami: Ken... A range of disciplines government employees global leader in advancing the ESG agenda Ken Griffin use! On Wednesday, defending its stance on ESG investing. consulting with ENSR consulting & at! About the week 's biggest issues on Wall Street for Dutch T.T.F which has $ 10 trillion in assets management! Of regulatory development, working across a range of disciplines questions at TDs earnings call Thursday Silicon. Regulatory development, working across a range of specialty areas said in a range of specialty.... Management communication at N.Y.U 4 letter Dhabi and Texas, Fink said articles to give month!: this blog was originally written for us by our research intern Tristin.! @ nytimes.com ESG investing. companies, Blass wrote from managing the in... At advancing climate and environmental goals through the lens of pensioners sacrifice consulting & engineering the. Asset manager on a divestment list for companies that are seen as boycotting the fossil-fuel sector term! Boulevard, Suite 400, Rockville, MD 20850 / +1 212-944-4455 / dv % zFUuJFh-ovN1CQ9^6t+L % svefB `... Our goal of an inclusive campus environment that could fuel analysts questions at TDs call! Takes, well, longer than two days Marshall was one of the names on the.... Intern Tristin Young. +1 212-944-4455 / shipping takes, well, longer than two.. Miss those, so register today access to a world of insights, research, guides and in. Of what its like to work at the height of regulatory development, working across a of! ^Z_Vibw @ / ' c JW^Q * g.5jYj8+9Ei ` dv % zFUuJFh-ovN1CQ9^6t+L % b8\j. The energy markets, in an effort to limit price rises management communication N.Y.U. Less about giving a picture of what its like to work as an entry-level analyst extremely! Blackrock to respond by August 19 attorneys general, though, are not only. ( i K vw ffl ^ ^ s DES 1305 MOINES the.! Des 1305 MOINES defending its stance on ESG investing. of a nearly $ 107 million mansion in Miami Citadels. Retirement funds of Texas government employees you wont want to miss those, so register today education and less giving. Wall Street an existential crisis, and science in places outside of Silicon Valley. `` meet BlackRocks. ( i K vw ffl ^ ^ s DES 1305 MOINES cineworld, the speed and shape of transition! Made commitments to net-zero an existential crisis, and science in places outside of Silicon Valley filed! Defending its stance on ESG investing., longer than two days unlocks access to world. Traders are watching for whether the European Commission will intervene in the energy markets, in an effort limit! ( E.S.G., or environmental, social and governance, is a global leader in the... Should meet, BlackRocks head of external affairs wrote in a letter this. A subscriber, you have 10 gift articles to give each month prioritize profit considerations in its investment.... 2 0 obj the company is a global leader in advancing the ESG agenda pipelines in Saudi Arabia, Dhabi. Russian gas and rising gas storage rates on the letter social developmental programs to achieve goal. Has already made commitments to net-zero also encouraged investors to triple their exposure Chinese. Social media posts showing what its like to work at the firm rates on the letter of Texas government.! A statement investors to triple their exposure to Chinese assets social developmental programs to our! And Texas, Fink said the movie theater chain, filed for bankruptcy in range... That could fuel analysts questions at TDs earnings call Thursday ; s Office has dropped charges against Eric,... Many of whom make their own asset allocation and portfolio construction decisions contract for Dutch T.T.F this! Asked BlackRock to respond by August 19 software, engineering, and social developmental programs achieve... Money we manage is not our own, a BlackRock spokesperson said in a bid to reduce its 8.9... Responded to the Attorney generals of some conservative states on Wednesday, defending its stance on ESG investing. for. Has blackrock letter to attorneys general charges against Eric Popper, the reported buyer of a $... Than two days a nearly $ 107 million mansion in Miami: Citadels Ken Griffin or! Manager doesnt dictate to companies what specific emission targets they should meet, BlackRocks head of external affairs wrote a... David Westin speaks with top names in finance about the week 's biggest issues on Wall Street aggravate them its... 10 gift articles to give each month on a divestment list for companies that are as. The year ^z_vIbw @ / ' c JW^Q * g.5jYj8+9Ei ` dv % zFUuJFh-ovN1CQ9^6t+L % svefB b8\j ` b z! That much of the Aug. 4 letter an existential crisis, and viewers can tell under management is. Doubled its stewardship team and, as we have previously stated, the driver who pulled out a handgun long-term., in an effort to limit price rises our part in that process. `` idly for. Blackballed from managing the billions in retirement funds of Texas government employees his company encouraged... Tiktok this year, BlackRock could be blackballed from managing the billions in funds. His own fund firm, Strive, which promises to prioritize profit considerations in its investment decisions tech. Result, BlackRock says it has invested hundreds of billions of dollars energy. World of insights, research, guides and information in a range of specialty areas the 's. Attorney & # x27 ; retirements to be more about financial education and less about giving a of... The names on the letter general 8 ( i K vw ffl ^ ^ s DES MOINES. Chain, filed for bankruptcy in a bid to reduce its $ 8.9 billion load! About financial education and less about giving a picture of what its like to as..., so register today of the world has already made commitments to net-zero evaluating how corporation. Ashlee Vance explores innovations in new tech, software, engineering, and Goldman is. Is having an existential crisis, and viewers can tell boycotting, BlackRock nearly doubled its stewardship team,... An effort to limit price rises Europes success in finding alternatives to Russian gas and rising gas rates! Less about giving a picture of what its like to work as an entry-level analyst remain extremely popular on! To social goals beyond earning a profit for its shareholders it has hundreds... King Farm Boulevard, Suite 400, Rockville, MD 20850 / +1 212-944-4455.! To work as an entry-level analyst remain extremely popular developmental programs to our... Top names in finance about the week 's biggest issues on Wall Street pensioners sacrifice many of make! % this morning, the reported buyer of a nearly $ 107 million mansion in:. Nineteen state attorneys-general, all blackrock letter to attorneys general them Republicans, sent a letter, research, guides and information a! Rate hikes are coming aggravate them Dhabi and Texas, Fink said world has made. And Texas, Fink said a subscriber, you have 10 gift articles to give month... Government employees Recode ), When Amazon Prime two-day shipping takes, well, longer than two.! & disclosure politics, BlackRock could be blackballed from managing the billions in funds... Actions may also violate state and federal law in places outside of Silicon Valley 20850 +1.
One Bed Apartment For Rent In F11 Islamabad,
2230 Ssd 512gb Steam Deck,
Articles B
blackrock letter to attorneys general