• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home Science & Environment Climate Change

11 States Sue BlackRock, Vanguard, State Street For Intentionally Driving Up Electric Prices

November 27, 2024
in Climate Change
Reading Time: 3 mins read
A A
0
coal plant power lines
4
SHARES
8
VIEWS
Share on FacebookShare on Twitter


BlackRock Inc., Vanguard Group Inc., and State Street Corp. were sued by a group of states led by Texas for allegedly breaking antitrust law by boosting electricity prices through their investments, in the highest-profile lawsuit yet against the beleaguered ESG industry. [emphasis, links added]

Texas Attorney General Ken Paxton and 10 other states claim the money managers combined their market clout and membership in climate groups to pressure coal producers to cut output.

Shortages have caused Texans and residents of other states to pay higher power bills, according to the lawsuit, filed Wednesday in federal court in Texas.

The Republican-led states, including West Virginia and Montana, are asking the court to bar the three largest US money managers from using their stock in coal companies to vote on shareholder resolutions and take other steps in a way that restrains output and limits market competition.

Spokespeople for BlackRock and Vanguard didn’t have an immediate comment on the lawsuit. State Street didn’t immediately respond to emails seeking comment.

The complaint marks the culmination of a years-long investigation by GOP officials who have taken aim at Wall Street’s efforts to address climate change, the main pillar of the environmental, social, and governance (ESG) strategy.

Pressure has mounted on investment firms since last year when state attorneys general warned them that Americans’ savings shouldn’t be used to “push political goals” during the shareholder voting season.

In response, climate advocates say environmental risks are financial risks and that addressing them is among investors’ fiduciary responsibilities.

Paxton accused the investment firms of working together to cause industrywide reductions in coal production, which has resulted in higher energy prices for American consumers.

He cited a 1914 federal law, the Clayton Antitrust Act, that outlaws buying shares with the result of substantially reducing competition.

The lawsuit alleges that BlackRock, Vanguard, and State Street used their shareholdings in coal companies, including Peabody Energy Corp. and Arch Resources Inc., to press management to cut their carbon emissions.

This started in 2021 as part of the investment firms’ membership in groups such as Climate Action 100+ and Net Zero Asset Managers Initiative.

In effect, the firms formed “a syndicate and agreed to use their collective holdings of publicly traded coal companies to induce industrywide output reductions,” according to the suit.

Read more at Dallas Morning News

Related

Previous Post

What happened to Donald Trump’s court cases? : The NPR Politics Podcast : NPR

Next Post

Saudi Arabia’s King Salman inaugurates Riyadh Metro

Related Posts

north sea oil rig

Trump Urges UK To Cut Sky-High Bills With More Drilling, Less Renewables

May 24, 2025
8

House Republicans nuke incentives for clean energy —…

May 23, 2025
9
Next Post
Saudi Arabia’s King Salman inaugurates Riyadh Metro

Saudi Arabia’s King Salman inaugurates Riyadh Metro

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0
Aichi police arrest Nagoya teen for involvement in Myanmar fraud ring

Aichi police arrest Nagoya teen for involvement in Myanmar fraud ring

May 24, 2025
EU vows to defend interests after Trump threatens 50 percent tariffs

EU vows to defend interests after Trump threatens 50 percent tariffs

May 24, 2025
Druze ex-minister Kara discusses Israeli relations with Iraq, Syria

Druze ex-minister Kara discusses Israeli relations with Iraq, Syria

May 24, 2025
Monsoon reaches Kerala; marks earliest onset in over a decade

Monsoon reaches Kerala; marks earliest onset in over a decade todayheadline

May 24, 2025

Recent News

Aichi police arrest Nagoya teen for involvement in Myanmar fraud ring

Aichi police arrest Nagoya teen for involvement in Myanmar fraud ring

May 24, 2025
4
EU vows to defend interests after Trump threatens 50 percent tariffs

EU vows to defend interests after Trump threatens 50 percent tariffs

May 24, 2025
4
Druze ex-minister Kara discusses Israeli relations with Iraq, Syria

Druze ex-minister Kara discusses Israeli relations with Iraq, Syria

May 24, 2025
3
Monsoon reaches Kerala; marks earliest onset in over a decade

Monsoon reaches Kerala; marks earliest onset in over a decade todayheadline

May 24, 2025
4

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

Aichi police arrest Nagoya teen for involvement in Myanmar fraud ring

Aichi police arrest Nagoya teen for involvement in Myanmar fraud ring

May 24, 2025
EU vows to defend interests after Trump threatens 50 percent tariffs

EU vows to defend interests after Trump threatens 50 percent tariffs

May 24, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co