FOR IMMEDIATE RELEASE
Contact: James Arnold or Mary Collins Atkinson (202) 224-2353
July 27, 2022
Cotton Asks BlackRock to Explain its Inadequate Response to Antitrust Concerns from ESG Scam
Washington, D.C. — Senator Tom Cotton (R-Arkansas) last night sent a second letter to Larry Fink, Chairman and CEO of BlackRock Inc., reiterating his demand for answers about the firm’s involvement in a scheme to reduce drilling for oil and gas that may violate antitrust law.
In part, Cotton wrote, “BlackRock’s intimation that it set boundaries when joining CA100+ is unconvincing, as the statement mirrors CA100+’s own language on its website. And if this was a response to my letter, it did not answer my questions.”
“BlackRock’s statement raises additional questions about its commitments to the CA100+ initiative. Many of the commitments investor participants make when joining CA100+ raise potential antitrust issues,” Cotton continued.
Text of the letter may be found here and below.
Mr. Larry Fink
Chairman and Chief Executive Officer
BlackRock Inc.
55 East 52nd Street
New York, NY 10055
Dear Mr. Fink,
On July 13, I sent you a letter inquiring about BlackRock’s involvement with Climate Action 100+ (“CA100+”).
Though BlackRock failed to provide my office with a response, it did respond to a request for a statement by “responsible-investor.com.” BlackRock’s statement to the website was:
BlackRock joined Climate Action 100+ to participate in…
