Trump’s SEC is Threatening Big Investors That Pushed ExxonMobil on Climate Risk
This story was originally published by Inside Climate News and is reproduced here as part of the Climate Desk collaboration. The US Securities and Exchange Commission issued an unusual warning this week to the country’s largest asset managers and a climate-focused investor group over their roles in a 2021 campaign that replaced board directors at ExxonMobil. The commission published […]
The US Securities and Exchange Commission (SEC) issued a warning to major asset managers and a climate-focused investor group regarding their involvement in a 2021 campaign aimed at replacing board directors at ExxonMobil. The SEC's letter, while not finding evidence of violations, expressed serious concerns about the actions taken by entities such as BlackRock, State Street, Vanguard, and pension funds like the California Public Employees' Retirement System and the New York State Common Retirement Fund.
The letter suggests that the SEC aims to discourage large asset managers from engaging with climate change issues, a move that follows a pattern of efforts by the Trump administration to limit investors' ability to address climate risks. This comes amid broader Republican efforts to curb shareholder advocacy on climate change and investigate similar activities.
Brief written by urgent.news from Mother Jones's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
