Firing a shot directly into corporate socialism, U.S. House Judiciary Committee Chairman Jim Jordan subpoenaed socially leftist investment firm BlackRock as part of the Committee's investigation into “the sufficiency of current antitrust laws to address collusive agreements to promote and adopt left-wing environmental, social, and governance (ESG) goals.”
As one of the nation's largest investment firms, BlackRock allegedly uses its control of corporate voting shares to coerce companies into funneling millions of dollars into leftist social causes, even though it may jeopardize clients' investments and violate federal law.
“Corporations are collectively adopting and imposing progressive environmental, social, and governance (ESG)-related goals, and BlackRock, Inc. (BlackRock) appears to have entered into collusive agreements to ‘decarbonize' its assets under management and reduce emissions to net zero in ways that may violate U.S. antitrust law,” Jordan writes in a letter to BlackRock's attorney.
“To advance our oversight and inform potential legislation related to collusive ESG policies, the Committee must understand how and to what extent BlackRock may have colluded to promote ESG-related goals,” Jordan adds.
So far, BlackRock has not cooperated with investigators.
“The Committee wrote to BlackRock on July 6, 2023, requesting documents and communications related to how BlackRock advances ESG policies, in addition to other key information. Although BlackRock has produced some documents, its overall response to the Committee's requests has been inadequate,” the Committee announced in a statement.
“(O)ver the course of more than five months, BlackRock has produced 7,745 documents—fewer than several other, much smaller entities have produced to the Committee in this investigation, despite BlackRock's massive size and influence as the world's largest asset manager, which suggests that the company may possess far more responsive material,” Jordan writes, noting Congress has since made repeated requests for the documents.
“As discussed above, BlackRock's response without compulsory process has been inadequate,” Jordan writes, adding “Accordingly, please find the enclosed subpoena.”
The opinions expressed in this article are those of the author and do not necessarily reflect the positions of American Liberty News.
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