<p>Lawmakers in <a href="http://dailywire.com/topic/texas" target="_blank" rel="noopener">Texas</a> scheduled a hearing for next week with asset management companies over alleged mismanagement of taxpayer dollars driven by ideological motives.</p>
<p>The Texas Senate Committee on State Affairs requested documents from <a href="http://dailywire.com/topic/blackrock" target="_blank" rel="noopener">BlackRock</a>, <a href="http://dailywire.com/topic/vanguard" target="_blank" rel="noopener">Vanguard</a>, State Street, and Institutional Shareholder Services relevant to the firms’ promotion of the environmental, social, and governance movement, also known as <a href="http://dailywire.com/topic/esg" target="_blank" rel="noopener">ESG</a>, four months ago. Hearings will begin on December 15 in the city of Marshall, Texas.</p>
<p>&#8220;The Committee needs these documents to uncover the extent to which these firms have been playing politics using Texans’ hard earned money,” State Sen. Bryan Hughes (R-TX) said in a statement provided to The Daily Wire. “Next week we will hold a hearing where each firm will appear and give account to the people of Texas.”</p>
<p>Officials recently <a href="https://www.dailywire.com/news/blackrock-may-have-broken-the-law-with-its-woke-investing-schemes-republicans-argue" target="_blank" rel="noopener">warned</a> BlackRock that efforts related to the company’s promotion of causes such as emissions reduction violate state laws mandating a sole focus on financial returns among all fiduciaries. Texas also announced that BlackRock and nine other firms had <a href="https://www.dailywire.com/news/texas-cuts-ties-with-blackrock-other-woke-firms-over-their-hatred-for-fossil-fuels" target="_blank" rel="noopener">broken</a> the law by “refusing to deal with” companies involved in the production and use of fossil fuels “without an ordinary business purpose.”</p>
<p><b data-stringify-type="bold"><a class="c-link c-link--focus-visible" tabindex="-1" href="https://get.dailywire.com/readers-pass/read-only-v2?utm_campaign=dwplus&amp;utm_medium=editorial&amp;utm_source=dwsite&amp;cid=dwplus&amp;mid=z&amp;xid=0" target="_blank" rel="noopener noreferrer" data-stringify-link="https://get.dailywire.com/readers-pass/read-only-v2?utm_campaign=dwplus&amp;utm_medium=editorial&amp;utm_source=dwsite&amp;cid=dwplus&amp;mid=z&amp;xid=0" data-sk="tooltip_parent" data-remove-tab-index="true" aria-describedby="sk-tooltip-25974">TIRED OF THE LEGACY MEDIA’S BIAS CONTROLLING THE NARRATIVE AND OBSCURING THE TRUTH? JOIN US.</a></b></p>
<p>Hughes added that some firms have produced more documents than others, noting that BlackRock in particular “has refused to provide documents it considers internal or confidential,” leading lawmakers to issue a subpoena. “We will not allow these firms to continue to use Texans’ money to force a narrow political agenda,” he continued. “They have a legal duty to put their investors’ interests first, and we intend to make sure they do.”</p>
<p>The subpoena, provided to The Daily Wire, emphasized BlackRock’s support of global climate initiatives such as the Net-Zero Banking Allowance and the Glasgow Financial Alliance for Net Zero, which are intended to “use any part of the financial system to reduce or eliminate greenhouse gas emissions or otherwise pursue environmental goals.”</p>
<p>BlackRock has taken “voting action on climate issues” against dozens of its portfolio companies, according to an investment stewardship <a href="https://www.blackrock.com/corporate/literature/publication/our-commitment-to-sustainability-full-report.pdf" target="_blank" rel="noopener">report</a> published two years ago, prompting state-level officials across the country to note that such activism may work against their economies and <a href="https://www.dailywire.com/news/state-attorneys-general-move-to-block-vanguards-climate-crusade-from-impacting-public-power-grids" target="_blank" rel="noopener">raise nationwide energy prices</a>.</p>
<p>A number of Republican state governments have recently pulled funds from prominent asset managers over concerns that the companies’ voting priorities constitute a drift away from the sole pursuit of maximal returns. In addition to divestments from South Carolina, Louisiana, Missouri, West Virginia, and Utah, the state of Florida <a href="https://www.dailywire.com/news/florida-pulling-2-billion-from-blackrock-as-company-pushes-social-engineering-with-taxpayer-dollars" target="_blank" rel="noopener">announced</a> plans last week to remove $2 billion from BlackRock by the beginning of next year.</p>
<p>As the moves from conservative state policymakers and <a href="https://www.dailywire.com/news/vivek-ramaswamys-strive-asset-management-to-uproot-esg-moves-at-three-major-companies" target="_blank" rel="noopener">broader concerns</a> from the marketplace make headlines, BlackRock CEO Fink recently <a href="https://www.dailywire.com/news/blackrock-makes-major-change-after-backlash-against-woke-investing" target="_blank" rel="noopener">announced</a> that institutional clients would be able to vote their own shares rather than allow the company to act as a proxy.</p>
<p>“We are witnessing a reckoning for these asset management firms that have until recently thought they could take hardworking Americans’ money and use it to drive their progressive agenda,” Consumers’ Research Executive Director Will Hild remarked in a statement provided to The Daily Wire. “This action from Texas will uncover much of what these firms have tried to hide — their agenda is driven by politics, not profits.”</p>
<p>At the federal level, however, the Labor Department introduced <a href="https://www.dailywire.com/news/trump-barred-retirement-plans-from-mixing-wokeness-with-profits-biden-is-reversing-that-rule" target="_blank" rel="noopener">measures</a> to undo a ban on ESG investments previously instituted by former President Donald Trump. The agency published a <a href="https://www.dol.gov/agencies/ebsa/about-ebsa/our-activities/resource-center/fact-sheets/final-rule-on-prudence-and-loyalty-in-selecting-plan-investments-and-exercising-shareholder-rights" target="_blank" rel="noopener">final rule</a> last month that reflected a directive from President Joe Biden to safeguard the economy from “climate-related financial risk that may threaten the life savings and pensions of America’s workers and families.” Fiduciaries will be permitted to consider “the economic effects of climate change and other ESG considerations” as long as such factors are salient within risk-and-return analyses.</p>

<script async src="https://www.instagram.com/embed.js"></script>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<script async src="https://www.tiktok.com/embed.js"></script><div data-widget-host="revcontent" data-pub-id="165152" data-widget-id="290588"></div><script src="https://delivery.revcontent.com/165152/290588/widget.js"></script>

Texas Subpoenas, Schedules Hearing For BlackRock: ‘Playing Politics Using Texans’ Hard Earned Money’

Bud Light Sales Continue To Plummet, May Soon Lose Status As Number-One Beer

‘Profoundly Christian’: Former Head Of Anglican Church Presses British Government To Endorse Assisted Suicide

Ben Shapiro Reacts To Debt Limit Deal, Hits Both Democrats And Republicans Over Spending Habits

‘The Chosen’ Defends Pride Flag Spotted On Set: ‘Let The Show Speak For Itself’

Chick-Fil-A Faces Backlash As Their Diversity Efforts Resurface, Other Woke Brands Take Beating

North Korea Sentenced Two-Year-Old To Life In Prison After Family Caught With Bible: State Department

News

BlackRock

Business

Economy

Texas

Vanguard

A video goes viral showing a baby being refused his mother by two gay "dads". This is just the tip of the iceberg, which is why we will have an important discussion today about surrogacy. 

Hour 1

The Matt Walsh Show

Ep. 1765 - This Video Is One Of The Worst Things I've Seen In A Long Time 

The Strait of Hormuz officially opens for business (kind of), the Pope makes “shocking” comments on immigration, and President Trump promises UFO disclosure at TPUSA. 


The Michael Knowles Show

Ep. 1956 -  Pope Leo's "SHOCKING" Immigration Comments EXPLAINED

A false miscreed has corrupted our leadership class.


The Andrew Klavan Show

Ep. 1275 - Dumb, Dumber and Progressive

President Trump announces a 10-day ceasefire between Lebanon and Israel, a murder-suicide involving former Democratic Lieutenant Governor Justin Fairfax shakes Virginia, and France and Britain hold a conference to secure the Strait of Hormuz – after the Iranian conflict ends. Get the facts first with Morning Wire.

- - -

Ep. 2738

- - -

Wake up with new Morning Wire merch: https://bit.ly/4lIubt3

- - -

Today's Sponsors:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text 'WIRE' to 83848 to learn more.

Pocket Hose - Text MORNING to 64000 to get a FREE pocket pivot and their 10-pattern sprayer with the purchase of ANY size Copper Head hose. Message and data rates may apply.

Morning Wire

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26 [Member Exclusive]

A ceasefire goes into effect between Israel and Lebanon, a tragic murder-suicide rocks Virginia, and Dairy Queen deploys AI in the drive-thru. Get the facts first with Evening Wire.
- - -
Ep. 2737
- - -
Wake up with new Morning Wire merch: https://bit.ly/4lIubt3 
- - -
Today’s Sponsor:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text “WIRE” to 83848 to learn more.


Evening Wire: Lebanon Ceasefire Begins & Murder-Suicide Rocks VA | 4.16.26

The Pendragon Cycle

Menu

— News —

Texas Subpoenas, Schedules Hearing For BlackRock: ‘Playing Politics Using Texans’ Hard Earned Money’