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Will other states sue BlackRock over ESG claims by end of 2025?
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Resolution / Starting Odds
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No • 50%
Publicly available court records or press releases from state attorney generals
Story
Tennessee Settles with BlackRock Over Misleading ESG Claims, Declares ESG Investing 'Dead'
Jan 17, 2025, 07:01 PM
Tennessee has settled a lawsuit with BlackRock Inc., the world's largest asset manager, after accusing the firm of breaching consumer protection laws by making 'misleading' statements about its environmental, social, and governance (ESG) investment strategy. The settlement, announced by Tennessee Attorney General Jonathan Skrmetti, resolves allegations that BlackRock misled customers regarding the integration of ESG factors into its investment practices. Under the terms of the settlement, BlackRock has agreed to enhance transparency, implement compliance measures including audits, improve investor communications, and commit to casting shareholder votes solely to further the financial interests of investors in funds not focused on ESG objectives. Tennessee Attorney General Jonathan Skrmetti stated that this settlement signifies that ESG investing is 'dead' at BlackRock. The settlement does not include a penalty or admission of wrongdoing by BlackRock.
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Similar markets
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