Bloomberg Law
Nov. 29, 2022, 10:39 PM

ESG Foes Ask Energy Regulator to Bar Vanguard’s Utility Holdings

Andrew Ramonas
Andrew Ramonas
Senior Corporate Disclosure Reporter
Daniel Moore
Daniel Moore

Republican attorneys general from Utah, Texas and other states want a federal energy regulator to stop Vanguard from buying stock in public utilities, citing concerns about the investment firm’s support for environmental, social and governance investing.

Vanguard Group Inc. can’t ensure that so-called “meddling in companies’ environmental agendas” won’t raise the price consumers pay for power, 13 attorneys general said Monday in a filing with the Federal Energy Regulatory Commission. The letter, led by Utah’s AG Sean Reyes, requested that FERC hold a hearing over its authorization that currently allows Vanguard to purchase big stakes in utility companies.

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