Bloomberg Law
Dec. 10, 2022, 6:00 PM

BlackRock Facing More Blowback Over ESG as GOP Pressure Mounts

Nic Querolo
Nic Querolo
Bloomberg News

It’s been a tough couple weeks for BlackRock Inc., the world’s largest money manager, which endured fresh blows from Republican officials sharply critical of ESG.

On Wednesday, Texas said one of its Senate committees had issued a subpoena requesting documents about BlackRock’s environmental, social and governance practices, and asked for at least one of six executives, including Chief Executive Officer Larry Fink, to attend a Dec. 15 hearing. On the same day, Vanguard Group Inc., one of BlackRock’s main rivals, withdrew from the world’s largest climate-finance coalition, creating a potential selling point to anti-ESG clients. Florida said ...