House Panel Subpoenas BlackRock, State Street, Vanguard, and Arjuna in ESG Probe

The House Judiciary Committee has issued subpoenas to BlackRock and State Street as part of an ongoing investigation into their promotion of environmental, social, and governance (ESG) goals. The committee is examining whether advocating for ESG investing violates antitrust laws. Republicans on the committee are concerned that ESG goals could hinder asset managers from acting in the best interests of their clients and harm the U.S. economy. BlackRock and State Street have stated their commitment to cooperating with the committee's requests.