Mississippi Secretary of State Michael Watson (R) on March 26, 2024, sent a cease and desist letter to BlackRock arguing the firm misled investors regarding the extent of its commitment to ESG strategies and threatened to fine the asset manager. Watson specifically said BlackRock’s claim that the firm’s non-ESG funds did not “seek to follow a sustainable, impact or ESG investment strategy” was false or misleading and contrary to BlackRock’s public ESG commitments to pro-ESG initiatives like the Net Zero Asset Managers Initiative.
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