SATURDAY COMMENTS
Attorney General Ken Paxton Warns Major Financial Institutions that DEI and ESG Commitments Could Lead to Enforcement Actions if Found to Violate State or Federal Laws
Most are aware of the damage that DEI has caused. Not so many are aware of the greater failure of ESG’s . ESG (Environmental, Social, and Governance) refers to a framework used by investors and companies to evaluate and prioritize non-financial factors like climate impact, labor practices, diversity, board structure, and ethical governance. The Green New Deal became the Bible, With BlackRock, Vanguard and State Street pushing the ESG to all their clients. Ken Paxton just got a scalp. Attorney General Ken Paxton and 10 State Attorneys General warned major financial institutions that certain diversity, equity, and inclusion (“DEI”) and environmental, social, and governance (“ESG”) commitments could lead to enforcement actions if they are found to violate state or federal law.
Vanguard has reached a settlement with Texas and other Republican-led states that accused the asset manager and its biggest competitors of conspiring to suppress coal production in a key case about environmental, social and governance investing. The asset manager will pay $29.5mn to settle the litigation, leaving BlackRock and State Street to fend off the case alone. Vanguard, which manages $12 trillion in assets, did not admit wrongdoing. BlackRock declined to comment. While the case was narrowly focused on coal production, Wall Street has closely watched the battle because of its potential for far-reaching implications for the broader investment industry. State Street said: “This lawsuit remains baseless and without merit. There was not, and is not, any collusion here. We remain confident that the facts and legal substance are on our side.” And I remain confident Senator Ken Paxton will have more than enough for a major lawsuit.
BREAKING: Bill Clinton Testifies Under Oath That Trump Was Not Involved with Epstein
This should be the curtain for the Epstein Files. Does anyone believe if DJT was involved, it would have surfaced between 2015 and 2020.
Not sure what he said, but I’ll defend his right to say it.’ The only good thing I can say about the ejectamenta-Americans on the left is that, despite the quotidian clown-slap of reality striking their grottily pierced faces, they puissantly push forward like the frenetic, blue-haired banzai toadies they were brainwashed to be’.
