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Federal Authorities Accuse BlackRock, Vanguard of Coal Collusion

5/23/2025

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Summary

Story summary

Federal antitrust authorities are siding with Texas and 12 other states in their bold accusation that BlackRock, Vanguard, and State Street colluded to limit coal production under the guise of climate activism. The DOJ and FTC are pushing for the dismissal of the asset managers' claims for exemption, highlighting the escalating clash between financial giants and conservative states over environmental regulations.

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Story summary

Federal antitrust authorities are siding with Texas and 12 other states in their bold accusation that BlackRock, Vanguard, and State Street colluded to limit coal production under the guise of climate activism. The DOJ and FTC are pushing for the dismissal of the asset managers' claims for exemption, highlighting the escalating clash between financial giants and conservative states over environmental regulations.