Texas Targets Destructive Green Agenda
In a bold move, Texas is suing three major asset managers, accusing them of manipulating coal prices to push a green agenda. The lawsuit, led by Texas Attorney General Ken Paxton, claims that BlackRock, State Street, and Vanguard used their investments in coal companies to restrict production and artificially inflate prices.
BlackRock has denied these allegations, calling them illogical. The asset managers are also accused of being involved in Climate Action 100+, a initiative to reduce carbon emissions in the business sector. Vanguard did not participate, and although BlackRock and Vanguard initially supported the effort, they no longer do.
Paxton, who is facing accusations of bribery, abuse of office, and securities fraud, has been impeached and indicted. However, the Texas senate, controlled by Republicans, acquitted him in a close vote of 16-14.
The legal battle between Texas and these asset managers highlights the tension between environmental goals and financial interests in the investment world. It will be interesting to see how this case unfolds and what implications it may have for the future of green initiatives in the financial sector.
In other news, Europe faces challenges in defending itself, the UK is investigating mysterious drones over US air bases, concerns are rising over the spread of bird flu, and global leaders are meeting in Busan to address the issue of plastic waste. Additionally, a referee scandal has taken a serious turn, shifting from embarrassment to potentially more severe consequences.
