19 State AG's Call BlackRock to the Carpet

CEO Laurence Fink needs to answer for contradictory positions on ESG & energy investments.

BlackRock has a fiduciary duty to create the best possible return for its clients, but is instead …

using citizens' assets to pressure companies to comply with international agreements such as the Paris Agreement that force the phase-out of fossil fuels, increase energy prices, drive inflation, and weaken the national security of the United States.

BlackRock actually triggered the inquiry when their Chief Client Officer, Mark McCombe, recently wrote a letter to many of the states describing BlackRock’s position on energy investments with respect to the State’s pension funds. The letter contains many statements that appear to conflict with BlackRock’s previous public statements and commitments.

Oops…

The AGs note U.S. Senators determine which international agreements have the force of law, not BlackRock.

The AGs also have several additional concerns that fall under their jurisdictional authority as attorneys general.

A response is requested by Friday, 19-August-2022

State AGs include
Chris Carr, GA
Daniel Cameron, KY
Derek Schmidt, KS
Doug Peterson, NE
Eric Schmidt, MO
Jeff Landry, LA
Lynn Fitch, MS
Mark Brnovich, AZ
Lawrence G. Wasden, ID
Leslie Rutledge, AR
Steve Marshal, AL
Todd Rokita, IN

Why Is This Important?

Unless the States attempt to circumvent our Constitution, our Constitution limits the actions of the Federal government but not that of States when it comes to protecting State assets - see U.S. Constitution Article I (archive) and Amendment 10 (archive).

BlackRock entered into an agreement with the U..S. Senate concerning State pension funds but broke that agreement based upon their latest statements and actions. Making changes to any agreement with any Legislative branch requires approval before the changes are implemented.

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About BlackRock

That will take a lot of doing to spell it all out, so we’ll let Sorelle Amore explain Black Rock to you in less than 15 minutes (and this is the short version of who they are). If the video isn’t working, click here to go to YouTube. If the video has been pulled by YouTube, click here (opens to the cwick128 account in rumble).