State of Tennessee Sues BlackRock in ‘First-Of-Its-Kind’ ESG Lawsuit

Tennessee Attorney General Jonathan Skrmetti is going after BlackRock, the world’s largest asset manager, in a first-of-its-kind consumer protection lawsuit over ESG considerations.

In the complaint, Skrmetti accuses BlackRock of making “inconsistent statements” about its investment strategies and misleading Tennessee consumers about the scope of its ESG activity, also known as environmental, social and corporate governance.

The controversial ESG investment strategy prioritizes climate-related policies such as reducing companies’ carbon output. However, BlackRock and other firms’ push toward ESG-focused investing has drawn increasing backlash from policymakers and the public in recent years.

Read the source article at WKRN