BlackRock Subpoenaed by Texas Senate Panel Over ESG Issues (1)

A Texas Senate committee issued BlackRock Inc. a subpoena, requesting specific documents related to the world’s largest money manager’s environmental, social and governance practices and for its executives to testify.

The Committee on State Affairs asked BlackRock last month to produce documents that will help legislators discuss what impacts ESG policies may have on Texans’ retirement savings, according to a statement Wednesday. The committee also sent a request for at least one of six BlackRock executives, including Chief Executive Officer Larry Fink, to attend the Dec. 15 hearing at which legislators will review the documents.

Larry Fink

Photographer: Ting Shen/Bloomberg

The subpoena ...