Tennessee Attorney General settles ESG dispute with BlackRock

(Reuters) – Tennessee Attorney General Jonathan Skrmetti announced a settlement with BlackRock on Friday, resolving allegations that the asset manager misled customers regarding the role of ESG factors in its investment practices.

The settlement ends a lawsuit that the state had filed against BlackRock in December 2023.

Terms of the settlement were not disclosed.

“While investors are always free to buy cause-oriented products instead of focusing on maximum return, this settlement ensures that only investors who make a knowing choice will see their assets directed toward these non-financial goals,” Skrmetti said in a statement.

BlackRock did not immediately respond to a request for comment.

(Reporting by Niket Nishant in Bengaluru; Editing by Shailesh Kuber)

Biden protects 84% of IRA clean energy grants from being clawed back

TikTok addicts see silver lining in US ban

Live Market Pulse

The charting technology is provided by TradingView. Learn how to use theTradingView Stock Screener.