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BlackRock, Vanguard Blasted by GOP Senators for ESG Proxy Voting

Dec. 6, 2022, 9:49 PM

Republicans in the US Senate are amping up efforts to rein in BlackRock Inc., State Street Corp. and Vanguard Group Inc. on environmental, social and governance issues — a preview of a fight looming when the GOP takes control of the House next month.

The three asset managers are using their stakes in public companies to cast proxy votes that favor a “liberal political agenda,” according to a Tuesday report from GOP staff on the Banking Committee. Although the document isn’t binding, and is unlikely to sway Democrats who will maintain control of the chamber next year, it lays ...