{"id":2128713,"date":"2023-12-19T08:50:02","date_gmt":"2023-12-19T13:50:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tennessee-sues-blackrock-for-deceiving-consumers-about-its-radical-climate-agenda\/"},"modified":"2023-12-19T08:56:26","modified_gmt":"2023-12-19T13:56:26","slug":"tennessee-sues-blackrock-for-deceiving-consumers-about-its-radical-climate-agenda","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tennessee-sues-blackrock-for-deceiving-consumers-about-its-radical-climate-agenda\/","title":{"rendered":"Tennessee sues BlackRock for misleading consumers on its climate agenda"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftennessee-sues-blackrock-for-deceiving-consumers-about-its-radical-climate-agenda%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2128713&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"article-content\">\n<h2 class=\"wp-block-heading\">Tennessee \u2062Takes\u2062 on BlackRock in Landmark Lawsuit<\/h2>\n<blockquote>\n<p>In a groundbreaking lawsuit filed Monday, the state of Tennessee sued \u2062BlackRock Inc., the world\u2019s largest asset management \u200dfirm, for harming current and \u2062potential Tennessee consumers\u200d via the firm\u2019s so-called environmental, social, and governance (ESG) commitments.\u2064 The suit specifically \u2063takes aim\u200d at \u200bdecisions BlackRock has made \u201cto achieve various climate-related \u200cpolicy \u2064goals,\u201d which \u200bTennessee Attorney General Jonathan Skrmetti says <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/republican-ags-probe-top-banks-over-biden-backed-zero-emissions-pledge\/\" title=\"Republican AGs Probe Top Banks Over Biden-Backed \u2018Zero Emissions\u2019 Pledge\">violate consumer protection laws<\/a>.<\/p>\n<\/blockquote>\n<p>The suit details how BlackRock is joined with ESG climate coalitions, like the Net Zero Asset Managers Initiative and Climate\u200b Action 100+.\u2064 Thanks to its alliances with these ESG entities, the suit contends, BlackRock makes key company decisions based not on what will obtain the\u200b highest profit,\u200d but on what \u2062will \u200binstead move the \u200cworld closer to radical \u201cnet zero\u201d\u200d goals.<\/p>\n<div class=\"fdrlst__b89e9-paragraph-2-long d-flex justify-content-center\" style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"fdrlst__b89e9-644920480\">\n<div id=\"div-gpt-ad-1379703300879-0\" class=\"mb-30\"><\/div>\n<\/div>\n<div class=\"fdrlst__b89e9-1225b121663be12d2e3bdf55c17a9a62 fdrlst__b89e9-paragraph-2\" id=\"fdrlst__b89e9-1225b121663be12d2e3bdf55c17a9a62\"><\/div>\n<p>\u201cBlackRock \u200dhas\u200d articulated two\u200d inconsistent positions: one focusing solely on money and the other focusing \u2062on\u2063 environmental impact,\u201d Skrmetti said \u200din a statement, alleging that BlackRock is \u201cmisleading\u201d investors\u200b and consumers. \u201cTennessee consumers\u200b deserve\u2062 to \u200cknow which of BlackRock\u2019s statements are a \u2063true \u2062account of the company\u2019s decision-making.\u201d<\/p>\n<h3 class=\"wp-block-heading\">Consolidating Power<\/h3>\n<p>The Tennessee lawsuit is key in the battle against the growing consolidation of wealth and power among a small group of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/jd-vance-blames-the-childless-left-for-the-decline-of-the-american-family\/\" title=\"JD Vance Blames The \u2018Childless Left\u2019 For The Decline Of The American Family\">left-wing elites<\/a> with\u200c no consideration for consumers. ESG standards are powerful, rewarding or punishing companies based on how well they push leftist orthodoxy on things like skin \u200dcolor, \u2064the sexes, \u2064and \u2062climate alarmism. If you\u2019ve ever \u2063wondered why Bud Light pulled\u2063 its disastrous Dylan Mulvaney stunt, ESG \u200bis your answer.<\/p>\n<p>\u201cThese\u2064 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/lost-retirement-why-401ks-are-not-ok-and-not-just-because-of-the-lousy-economy\/\" title=\"Lost Retirement: Why 401(k)s Are Not OK (and Not Just Because of the Lousy Economy)\">big asset managers<\/a> have \u2063unbelievable amounts \u200cof leverage over the economy,\u201d Skrmetti told The Federalist. \u2063\u201cBlackRock\u2063 has almost $10 trillion in assets\u200c under management.\u201d This\u2064 is\u200d why BlackRock,\u200d as well as other major\u200d investment firms and big\u2063 banks, can act as ESG enforcers on businesses.<\/p>\n<p>As Federalist contributor Justin Haskins explained, \u201cBlackRock\u200c has been one of \u200bthe \u200bworld\u2019s biggest supporters of ESG metrics,\u2064 using its power as one of the world\u2019s\u2063 largest shareholders to pressure\u200b companies \u2062to change society.\u201d<\/p>\n<div class=\"fdrlst__b89e9-4871f910a6c7728f41339dff3292694a fdrlst__b89e9-paragraph-6\" id=\"fdrlst__b89e9-4871f910a6c7728f41339dff3292694a\"><\/div>\n<p>In\u200b other\u2062 words, BlackRock \u200dand \u2063other major financial entities are shaping culture and enforcing policies outside the electoral consent of regular citizens. Skrmetti \u200cdescribed this as \u2064\u201cshadow \u200dregulations\u201d created \u200dby\u200d individuals who have \u201cno accountability to the\u2064 people.\u201d<\/p>\n<p>\u201cThat\u2019s the exact opposite of what America is,\u201d\u2063 Skrmetti said. \u201cWe \u2063are a self-governing people,\u201d where\u2064 \u201caccountability ultimately has to \u200blie with the\u200d voters.\u201d The Tennessee attorney general warned, \u201cIf you remove\u200d [power] \u2063from the voters, it starts this\u2062 cascading catastrophe \u200bthat will ultimately hurt all of\u200c us in ways that\u2062 we can\u2019t fully appreciate.\u201d<\/p>\n<h3 class=\"wp-block-heading\">The Consequences<\/h3>\n<p>According to \u2064BlackRock CEO \u2062Larry Fink, soon\u2064 \u201ceverything we do\u201d will be\u2064 dictated by ESG scores. \u2064Indeed, as author \u200cMichael Rectenwald put it, ESGs act as a \u201cChinese-style social \u200bcredit score for rating corporations. \u2063Woke planners\u200c wield the ESG Index to reward\u200d the in-group and to \u2064squeeze nonwoke players out of the market. Woke investment drives ownership\u200d and \u2063control of\u2062 production away from the noncompliant. The ESG Index serves as an admission ticket \u200bfor \u2064entry into the\u2062 woke cartels.\u201d<\/p>\n<p>But \u2063ESGs aren\u2019t\u2064 simply\u200d an assault on people\u2019s social values and economic freedom, they also pose a threat to \u200bpeople\u2019s lives. BlackRock\u2019s war on fossil\u200d fuels, which\u200c is mentioned in the \u200bTennessee lawsuit, could \u2062kill an untold number\u200b of people. Fossil fuels have provided humans with things like heating and\u2064 air conditioning, saving generations \u2064from life-threatening \u200cclimate\u200d disasters and extreme weather. Fossil fuels, in part, helped cut climate-related disaster deaths by 99 percent compared to a century ago.<\/p>\n<div class=\"fdrlst__b89e9-338b33f72adb94ba3c77f3028d4a2537 fdrlst__b89e9-paragraph-10\" id=\"fdrlst__b89e9-338b33f72adb94ba3c77f3028d4a2537\"><\/div>\n<p>Moreover, the higher standard of \u2064living provided \u2064by fossil\u200c fuels is why \u200cthe industrialized world enjoys lower poverty rates, longer life expectancies, and \u200blower \u2063infant mortality rates than the non-industrialized world.<\/p>\n<p>If BlackRock has its way, however, humanity will descend into a \u201cnet-zero\u201d nightmare, where regular\u2062 citizens are deprived\u2063 of \u2062basic \u200cthings like reliable transportation, electricity, heating and cooling systems, and \u2064mass\u2062 food production.<\/p>\n<h3 class=\"wp-block-heading\">BlackRock\u2019s Deep Pockets<\/h3>\n<p>BlackRock has already responded to\u200d the \u2064lawsuit by denying all wrongdoing, and Skrmetti told\u2063 The Federalist that he expects BlackRock to put up a formidable fight. \u200d\u201cBlackrock is\u2062 an \u200cenormous corporation with very, very deep \u200dresources,\u201d Skrmetti said. \u201cI have no doubt the legal team that they are assembling to defend this case \u2062will be extraordinary and aggressive and very challenging for us to deal with.\u201d<\/p>\n<p>\u201cAt the end of \u200bthe day, this is\u2064 a simple, simple case,\u201d he added. \u201cIs the company able to articulate two separate\u200c policies that contradict \u200deach other? Or \u2063can\u200d they not\u200b do that? And that\u2019s the beauty of the consumer protection case. It\u2019s not a complicated \u2063law. It just says you got to be honest.\u201d<\/p>\n<hr class=\"wp-block-separator\">\n<\/div>\n<p> <\/p>\n<h2> In\u2064 what ways does BlackRock&#8217;s shift towards\u2063 a Chinese-style social credit system \u200cthreaten innovation, dissent, and market diversity<\/h2>\n<p><span>  Business world and as a weapon \u2063for expelling dissenters.&#8221;<\/p>\n<p>BlackRock&#8217;s push for\u200c ESG standards not only undermines consumer protection but also threatens free-market principles \u200dand individual freedom. By prioritizing \u200dleftist ideologies over profit maximization, BlackRock exposes itself as a company that values social engineering over economic\u2063 growth. This disregard for consumer \u2064choice and market competition sets a dangerous precedent that should concern all Americans.<\/p>\n<p>Moreover, the consolidation of power in the \u200bhands of\u2062 a\u200d few left-wing elites raises serious questions about accountability and \u200btransparency.\u200d Skrmetti rightly highlights the \u2062lack of \u2064electoral consent and\u2063 democratic oversight\u200d in BlackRock&#8217;s influence on business practices. Americans should\u200b be wary of \u2062unelected individuals\u200c shaping regulations and \u200bpolicies that affect the \u2063lives of millions.<\/p>\n<p>The consequences of BlackRock&#8217;s \u200ddominance in the ESG arena extend beyond the realm of\u2062 corporate decision-making. As \u2062Fink himself \u2062admitted, ESG \u200cscores will soon dictate all aspects of BlackRock&#8217;s operations. This shift towards a Chinese-style social \u2063credit system\u200c limits innovation,\u2062 stifles dissent, and threatens to\u200b create a homogeneous business environment driven solely by ideological\u2063 conformity.<\/p>\n<p>If Tennessee&#8217;s lawsuit succeeds, it could set a precedent for reining in the unchecked power of ESG-focused \u2062asset managers like BlackRock. The case serves as a\u2062 wake-up call \u200bfor policymakers and consumers to scrutinize the influence \u2062and intentions of \u2062these powerful\u2063 entities. It is crucial to protect consumer choice, market competition, and democratic decision-making\u2064 from the overreach of ESG standards.<\/p>\n<p>Ultimately, Tennessee&#8217;s\u2063 lawsuit against BlackRock is not just a battle between a state and a financial giant. It is\u200c a \u2062fight for individual freedom, free markets, and the principles on which America was built. As Skrmetti aptly puts it, &#8220;If you remove power from the voters, it starts this cascading \u200dcatastrophe \u2064that will ultimately hurt all of us in ways that \u200cwe can&#8217;t fully appreciate.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a landmark lawsuit, Tennessee sued BlackRock Inc., accusing the asset management giant of harming Tennessee consumers through its environmental, social, and governance (ESG) commitments. The state targets BlackRock&#8217;s decisions to pursue climate-related policy goals, claiming it negatively impacts current and potential consumers<\/p>\n","protected":false},"author":1623,"featured_media":2128714,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[546],"tags":[],"class_list":["post-2128713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-federalist"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2128713","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1623"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2128713"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2128713\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2128714"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2128713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2128713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2128713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}