Attorneys General from Iowa and 10 other states are suing three investment firms, accusing the companies of pursuing a “green scheme” that is raising electric rates.
Iowa Attorney General Brenna Bird says BlackRock, State Street, and Vanguard are pushing “woke” investment strategies. She says they’re pressuring major energy companies to cut carbon emissions from coal plants nearly in half by 2030. Bird calls it “illegal collusion” and she says has raised electric rates because coal companies have to cut energy production to meet carbon reduction goals.
BlackRock says it “defies common sense” to suggest it has invested money in companies, “with the goal of harming those companies.”
The Texas attorney general filed the lawsuit accusing the investment firms of anti-trust violations on Wednesday. Bird, along with nine other Republicans who are the attorneys general in their states, have signed on to the suit.