Mississippi Issues Cease and Desist to BlackRock Over ESG Claims

The legal action accuses the investment giant of misleading investors about its climate strategy, marking a significant challenge to ESG investing.

Mississippi's Secretary of State accuses BlackRock of making fraudulent statements regarding its climate strategy, threatening to bar the firm from offering securities in the state.
This is not the first legal challenge BlackRock faces over ESG; Tennessee previously filed a lawsuit, and Texas pulled $8.5 billion from the firm.
BlackRock, managing about $10 trillion globally, insists on its commitment to law and maximizing returns, despite political backlash.
The controversy highlights a growing divide over ESG investing, with critics arguing it fails to deliver financial benefits and harms traditional industries.
The outcome of upcoming elections could further influence the future of ESG investing, amid increasing political and legislative opposition.