House Panel Subpoenas Major Financial Institutions in ESG Probe
House Judiciary Committee Chairman Jim Jordan has issued subpoenas to BlackRock and State Street Global Advisors, two major financial firms, as part of an investigation into whether current antitrust laws can address collusive agreements between corporations to advance politicized Environmental, Social and Corporate Governance (ESG) agendas. The subpoenas were issued after the firms' inadequate response to the committee's requests for documents and communications. Jordan alleges that the companies have entered into collusive agreements to promote ESG goals that may violate antitrust laws. Vanguard and Arjuna Capital were also subpoenaed for the same reasons earlier this week.