The Latest Breaking News from State Street

Lawmakers express concerns over potential antitrust violations in firms' ESG initiatives

House Judiciary Committee Chairman Jim Jordan (R-Ohio), along with Reps. Thomas Massie (R-Ky.) and Dan Bishop (R-N.C.), sent letters to the Big Three passive asset management firms—BlackRock, State Street, and Vanguard—on July 6 requesting information about their efforts to combat climate change through ESG. Jordan said such efforts could violate…

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

Congressman Chip Roy (R-Texas) on May 23 reintroduced legislation calling for the elimination of the use of ESG in the Thrift Savings Plan (TSP), the pension plan for federal employees and members of the military. The private managers of the TSP are BlackRock and State Street, two of the largest…

Entities from the U.S. met Telangana Industries and IT Minister K.T. Rama Rao and his officials

Russian casualties mark acceleration even when compared with first days of the war, says White House national security council spokesperson. Plus, all the coverage from the Met Gala

BlackRock and L&G among asset managers using funds with ESG label to invest in coal, oil and gas

Elon Musk spent much of 2022 selling off Tesla stock, though he remains the company’s largest individual stakeholder. However, many firms have plenty of shares.

In response to House Republicans’ plans to use their new majority to investigate the ESG movement, three Democratic senators penned an op-ed accusing their GOP colleagues of overstepping. The three senators—Sheldon Whitehouse (D-R.I.), Brian Schatz (D-Hawaii), and Martin Heinrich (D-N.M.)—also accused Republicans who oppose ESG of being anti-capitalist:

Paul Francisco oversees diversity efforts at State Street, a global financial firm with $3.3 trillion under management.

Kentucky State Treasurer Allison Ball (R) notified 11 banks that their ESG policies had harmed the state’s economy.