Mississippi accuses BlackRock of misleading investors on ESG criteria
The state notes that "many of the acts, practices and courses of business" of the investment company "operate or would operate as a fraud or deception."
(Wikimedia Commons)
Mississippi authorities reported that the investment management company BlackRock, Inc. allegedly misleads its clients through its ESG (Environment, Society and Governance) criteria, which are the basis of the Sustainable Development Goals (SDG) established by the United Nations (UN).
"Investment companies will not push their political agenda on Mississippians, especially through fraudulent and deceptive means. All citizens should have the opportunity to make informed and educated decisions when investing their hard-earned money," said Mississippi Secretary of State Michael Watson in a statement reported by The Epoch Times.
Watson added that the investment management company lied to clients about decisions made by its portfolio companies, saying that "many of BlackRock’s acts, practices, and courses of business operate or would operate as a fraud or deceit upon investors," and urging them to "cease and desist from making fraudulent statements, omissions, and other misrepresentations that operate or would operate as a fraud upon investors."
In addition, he warned that BlackRock pressures companies to adapt their policies to progressive ideology, in relation to climate change or other lines of thought.
Put progressive doctrine before the interests of the country
This is not the first time that a state has accused BlackRock of wanting to impose, by one method or another, progressive ideology. In May 2023, 17 attorneys general filed a motion with the Federal Energy Regulatory Commission (FERC) to shield energy companies from the investment management company's ESG policies.
The text requested the revocation of the investment fund's general authorization for the next three years to acquire voting interests in these companies because it is "an environmental activist" that promotes woke policies that put "the feverish dreams of the left" before the interests of the nation.
The attorneys general who signed this motion were those of Alabama, Alaska, Arkansas, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, Montana, Nebraska, Ohio, South Carolina, South Dakota, Texas, Utah and West Virginia.
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