Last week, the office of the secretary of state in Mississippi via the Securities Division issued BlackRock with a cease-and-desist order arising from statements it made on both its non-ESG and ESG funds. ESG funds are those that integrate environmental, social and governance factors in their decision-making when it comes to investments.
In its cease-and-desist order, the division reprimanded the multinational investment company for deceptively marketing its ESG funds and explained that claims about ESG funds bringing in better financial returns were untrue. The securities division then revealed that the company’s non-ESG funds weren’t managed without regard for ESG criteria, as the company was committed to using all its managed assets to advance the agenda of decreasing…
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