{"id":408728,"date":"2025-10-17T09:53:44","date_gmt":"2025-10-17T07:53:44","guid":{"rendered":"https:\/\/climatescience.press\/?p=408728"},"modified":"2025-10-17T09:53:46","modified_gmt":"2025-10-17T07:53:46","slug":"critics-fear-financial-titans-have-found-trojan-horse-for-climate-mandates","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=408728","title":{"rendered":"Critics Fear Financial Titans Have Found Trojan Horse For \u2018Climate Mandates\u2019"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"478\" data-attachment-id=\"408735\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=408735\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/0AQPPtzyc8-7lHk_1ot_GwVQLCyx1JPyV9H_b7ZDRzZryJ_PSSa-9E_txVnss6nF24XD0Dbiv72QvIzNiQMr49xzHjpBL6oSTYnn47QiPZuwCI4HySOt2_hHIV4yEVh25-1.jpeg?fit=1385%2C916&amp;ssl=1\" data-orig-size=\"1385,916\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"0AQPPtzyc8-7lHk_1ot_GwVQLCyx1JPyV9H_b7ZDRzZryJ_PSSa-9E_txVnss6nF24XD0Dbiv72QvIzNiQMr49xzHjpBL6oSTYnn47QiPZuwCI4HySOt2_hHIV4yEVh25 (1)\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/0AQPPtzyc8-7lHk_1ot_GwVQLCyx1JPyV9H_b7ZDRzZryJ_PSSa-9E_txVnss6nF24XD0Dbiv72QvIzNiQMr49xzHjpBL6oSTYnn47QiPZuwCI4HySOt2_hHIV4yEVh25-1.jpeg?fit=723%2C478&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/0AQPPtzyc8-7lHk_1ot_GwVQLCyx1JPyV9H_b7ZDRzZryJ_PSSa-9E_txVnss6nF24XD0Dbiv72QvIzNiQMr49xzHjpBL6oSTYnn47QiPZuwCI4HySOt2_hHIV4yEVh25-1.jpeg?resize=723%2C478&#038;ssl=1\" alt=\"A large wooden sculpture of a Trojan horse against a sunset backdrop.\" class=\"wp-image-408735\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/0AQPPtzyc8-7lHk_1ot_GwVQLCyx1JPyV9H_b7ZDRzZryJ_PSSa-9E_txVnss6nF24XD0Dbiv72QvIzNiQMr49xzHjpBL6oSTYnn47QiPZuwCI4HySOt2_hHIV4yEVh25-1.jpeg?resize=1024%2C677&amp;ssl=1 1024w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/0AQPPtzyc8-7lHk_1ot_GwVQLCyx1JPyV9H_b7ZDRzZryJ_PSSa-9E_txVnss6nF24XD0Dbiv72QvIzNiQMr49xzHjpBL6oSTYnn47QiPZuwCI4HySOt2_hHIV4yEVh25-1.jpeg?resize=300%2C198&amp;ssl=1 300w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/0AQPPtzyc8-7lHk_1ot_GwVQLCyx1JPyV9H_b7ZDRzZryJ_PSSa-9E_txVnss6nF24XD0Dbiv72QvIzNiQMr49xzHjpBL6oSTYnn47QiPZuwCI4HySOt2_hHIV4yEVh25-1.jpeg?resize=768%2C508&amp;ssl=1 768w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/0AQPPtzyc8-7lHk_1ot_GwVQLCyx1JPyV9H_b7ZDRzZryJ_PSSa-9E_txVnss6nF24XD0Dbiv72QvIzNiQMr49xzHjpBL6oSTYnn47QiPZuwCI4HySOt2_hHIV4yEVh25-1.jpeg?resize=1200%2C794&amp;ssl=1 1200w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/0AQPPtzyc8-7lHk_1ot_GwVQLCyx1JPyV9H_b7ZDRzZryJ_PSSa-9E_txVnss6nF24XD0Dbiv72QvIzNiQMr49xzHjpBL6oSTYnn47QiPZuwCI4HySOt2_hHIV4yEVh25-1.jpeg?w=1385&amp;ssl=1 1385w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">From <a href=\"https:\/\/dailycaller.com\/2025\/10\/13\/blackrock-utilities-across-america\/\">The Daily Caller<\/a><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"528\" height=\"50\" data-attachment-id=\"408730\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=408730\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/image-372.png?fit=528%2C50&amp;ssl=1\" data-orig-size=\"528,50\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"image\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/image-372.png?fit=528%2C50&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/image-372.png?resize=528%2C50&#038;ssl=1\" alt=\"Logo of the Daily Caller News Foundation\" class=\"wp-image-408730\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/image-372.png?w=528&amp;ssl=1 528w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/image-372.png?resize=300%2C28&amp;ssl=1 300w\" sizes=\"auto, (max-width: 528px) 100vw, 528px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">By <a href=\"https:\/\/dailycaller.com\/author\/AStreb\">Audrey Streb<\/a> DCNF Energy Reporter<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Major global asset managers including BlackRock and Blackstone have been looking to buy power utilities across America in a move that some industry insiders warn could harm consumers, raise electricity costs and advance a climate-driven energy agenda.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In recent months, Blackstone&nbsp;<a href=\"https:\/\/apnews.com\/article\/big-tech-private-equity-electricity-utilities-power-energy-7c5d119142380bb7a83bbe722f69f2a5\" target=\"_blank\" rel=\"noreferrer noopener\">reportedly<\/a>&nbsp;sought regulatory approval to buy utilities in New Mexico and Texas all while a BlackRock-led group&nbsp;<a href=\"https:\/\/www.eenews.net\/articles\/blackrocks-6-2b-buyout-of-minn-utility-gets-state-approval\/\" target=\"_blank\" rel=\"noreferrer noopener\">won<\/a>&nbsp;approval Friday to purchase a major utility in Minnesota. While BlackRock and other huge asset managers have&nbsp;<a href=\"https:\/\/dailycaller.com\/2023\/08\/01\/blackrock-vanguard-esg-green-investment-strategies-republican-pushback\/\" target=\"_blank\" rel=\"noreferrer noopener\">distanced themselves<\/a>&nbsp;from environmental, social and governance (<a href=\"https:\/\/www.ibm.com\/think\/topics\/environmental-social-and-governance\" target=\"_blank\" rel=\"noreferrer noopener\">ESG<\/a>) investment practices in recent years, some energy experts and consumer advocates that spoke to the Daily Caller News Foundation are concerned that buying up utilities may represent a new frontier of financial giants orchestrating \u201cclimate mandates.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cBlackRock isn\u2019t just influencing utilities anymore, they\u2019re buying them. After years of ESG-driven coercion that pushed utilities to abandon reliable energy in favor of China-dependent renewables, BlackRock is now taking direct control. The result will be more of the same: higher costs, weaker grids, and millions in unpaid bills, all driven by the very climate mandates they lobbied for,\u201d Jason Isaac, CEO of the American Energy Institute, told the DCNF. \u201cMinnesotans should brace for more unreliable power, rising rates, and a media narrative that blames Trump for ending taxpayer-funded handouts instead of holding the woke politicians and Wall Street elites responsible for the crisis.\u201d\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/dailycaller.com\/2025\/04\/01\/blackrock-ceo-larry-fink-renewable-energy-pragmatism-wind-solar\/\" target=\"_blank\" rel=\"noreferrer noopener\">(RELATED: A Major Backer Of Green Energy Admits Again That Solar And Wind Power Alone \u2018Can\u2019t Reliably Keep The Lights On\u2019)<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Electricity demand is&nbsp;<a href=\"https:\/\/www.eia.gov\/todayinenergy\/detail.php?id=65264\" target=\"_blank\" rel=\"noreferrer noopener\">on the rise<\/a>&nbsp;after years of stagnancy as the&nbsp;<a href=\"https:\/\/dailycaller.com\/2024\/08\/31\/big-tech-artificial-intelligence-net-zero-electricity-power-china\/\" target=\"_blank\" rel=\"noreferrer noopener\">artificial intelligence<\/a>&nbsp;(AI) race ushers in the build out of&nbsp;<a href=\"https:\/\/www.congress.gov\/crs-product\/R48646\" target=\"_blank\" rel=\"noreferrer noopener\">power-hungry<\/a>&nbsp;data centers. Utility costs are also&nbsp;<a href=\"https:\/\/dailycaller.com\/2025\/08\/04\/utility-bills-spike-electricity-demand-skyrockets\/\" target=\"_blank\" rel=\"noreferrer noopener\">spiking<\/a>&nbsp;as demand takes off in a trend that&nbsp;<a href=\"https:\/\/dailycaller.com\/2025\/08\/09\/legacy-media-blames-trump-for-soaring-energy-prices-turns-blind-eye-to-bidens-grid-crushing-policies\/\" target=\"_blank\" rel=\"noreferrer noopener\">dates back<\/a>&nbsp;to the&nbsp;<a href=\"https:\/\/www.eia.gov\/todayinenergy\/detail.php?id=56660\" target=\"_blank\" rel=\"noreferrer noopener\">Biden administration<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Against this backdrop, private investment titans like BlackRock and Blackstone are reportedly moving to buy power utility companies and invest in data center&nbsp;<a href=\"https:\/\/www.datacenters.com\/news\/blackstone-invests-2-5b-into-global-data-center-expansion\" target=\"_blank\" rel=\"noreferrer noopener\">expansions<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-10-03\/blackrock-s-40-billion-bet-on-a-lesser-known-data-center-firm\" target=\"_blank\" rel=\"noreferrer noopener\">startups<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Minnesota recently&nbsp;<a href=\"https:\/\/www.eenews.net\/articles\/blackrocks-6-2b-buyout-of-minn-utility-gets-state-approval\/\" target=\"_blank\" rel=\"noreferrer noopener\">granted<\/a>&nbsp;the BlackRock-led group known as Global Infrastructure Partners (GIP) approval to buy one of the state\u2019s major power utilities, Allete. GIP is also reportedly on the cusp of acquiring the major energy company,&nbsp;<a href=\"https:\/\/www.aes.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">AES<\/a>, according to sources familiar with the matter that&nbsp;<a href=\"https:\/\/www.reuters.com\/markets\/deals\/blackrocks-gip-nears-38-billion-takeover-utility-group-aes-ft-reports-2025-10-01\/\" target=\"_blank\" rel=\"noreferrer noopener\">spoke<\/a>&nbsp;with Reuters. The Financial Times&nbsp;<a href=\"https:\/\/www.ft.com\/content\/009d96c8-db70-4eee-ab7f-4bb59bacb86e\" target=\"_blank\" rel=\"noreferrer noopener\">reported<\/a>&nbsp;that the deal may be for $38 billion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">BlackRock referred the DCNF to Allete\u2019s&nbsp;<a href=\"https:\/\/investor.allete.com\/news-releases\/news-release-details\/allete-obtains-regulatory-approval-minnesota-public-utilities\" target=\"_blank\" rel=\"noreferrer noopener\">statement<\/a>&nbsp;on regulators approving its partnership with GIP and declined to comment further for this story.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Allete\u2019s statement notes that the impending partnership with the BlackRock-led group includes \u201cguaranteed access to capital to fund ALLETE\u2019s five-year plan for advancing transmission and renewable energy goals [and a] $50 million Clean Firm Technology Fund to support regional clean-energy projects and partnerships.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Federal Energy Regulatory Commission (FERC)&nbsp;<a href=\"https:\/\/www.ferc.gov\/news-events\/news\/e-8-chairman-christies-concurrence-blackrock-section-203-blanket-authorization\" target=\"_blank\" rel=\"noreferrer noopener\">renewed<\/a>&nbsp;BlackRock\u2019s&nbsp;<a href=\"https:\/\/www.ferc.gov\/media\/e-8-ec25-12-000\" target=\"_blank\" rel=\"noreferrer noopener\">ability<\/a>&nbsp;to own up to 20% of utility voting shares in April, with&nbsp;<a href=\"https:\/\/www.ferc.gov\/about\/commission-members\/current-previous-chairmen\" target=\"_blank\" rel=\"noreferrer noopener\">former<\/a>&nbsp;FERC Commissioner&nbsp;<a href=\"https:\/\/dailycaller.com\/2024\/08\/16\/grid-official-warns-biden-power-plant-rules\/\" target=\"_blank\" rel=\"noreferrer noopener\">Mark Christie<\/a>&nbsp;stating that&nbsp;<a href=\"https:\/\/www.ferc.gov\/news-events\/news\/e-8-chairman-christies-concurrence-blackrock-section-203-blanket-authorization?\" target=\"_blank\" rel=\"noreferrer noopener\">BlackRock<\/a>&nbsp;\u201cpledged not to use its holdings to influence utility management\u201d and that utilities need the access to capital.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Christie also&nbsp;<a href=\"https:\/\/www.ferc.gov\/news-events\/news\/commissioner-christies-concurrence-global-infrastructure-management-blackrock\" target=\"_blank\" rel=\"noreferrer noopener\">warned<\/a>&nbsp;in September 2024 that \u201cthis is an issue that deserves much greater scrutiny\u201d and that \u201cthe influence that large shareholders, BlackRock or otherwise, can potentially exert across the consumer-serving utility industry should not be underestimated.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Blackstone has reportedly sought regulatory approval to buy out the Public Service Company of New Mexico and Texas New Mexico Power Co. recently, according to The Associated Press. The asset management giant also&nbsp;<a href=\"https:\/\/www.nipsco.com\/our-company\/news-room\/news-article\/nisource-inc.-completes-nipsco-minority-equity-interest-transaction\" target=\"_blank\" rel=\"noreferrer noopener\">secured<\/a>&nbsp;a 19.9% stake in a Northern Indiana public utility for over $2 billion in January 2024.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cBlackstone\u2019s sustainability strategy prioritizes accelerating decarbonization by investing in the energy transition and driving value accretive emissions reduction in our portfolio,\u201d Blackstone\u2019s 2024 sustainability report&nbsp;<a href=\"https:\/\/www.blackstone.com\/wp-content\/uploads\/sites\/2\/2025\/06\/Blackstone-2024-Sustainability-Report.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">states<\/a>. \u201cWe believe the transition to cleaner energy creates meaningful investment opportunities for private capital. For over a decade, we have pursued attractive investments in companies and assets that are part of the global energy transition as part of our broader energy investing strategy.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Blackstone also&nbsp;<a href=\"https:\/\/www.blackstone.com\/news\/press\/blackstone-announces-agreement-to-acquire-hill-top-energy-center-in-western-pennsylvania-for-nearly-1-billion\/\" target=\"_blank\" rel=\"noreferrer noopener\">announced<\/a>&nbsp;on Sept. 15 that private equity funds affiliated with Blackstone Energy Transition Partners will acquire the Pennsylvania-based Hill Top Energy Center natural gas plant for almost $1 billion. The company also&nbsp;<a href=\"https:\/\/www.blackstone.com\/news\/press\/blackstone-to-invest-more-than-25-billion-in-pennsylvanias-digital-and-energy-infrastructure-plus-catalyze-an-additional-60-billion-investment\/\" target=\"_blank\" rel=\"noreferrer noopener\">announced<\/a>&nbsp;in July that funds managed by Blackstone Infrastructure and Blackstone Real Estate would invest over $25 billion to help build out Pennsylvania\u2019s energy infrastructure to support the AI \u201crevolution.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cRenewable\u201d energy goals and ESG investment tend to align with emissions-reduction targets, with some power&nbsp;<a href=\"https:\/\/www.pv-tech.org\/aes-to-triple-renewables-capacity-by-2027-and-ditch-coal-by-2025\/?\" target=\"_blank\" rel=\"noreferrer noopener\">companies<\/a>,&nbsp;<a href=\"https:\/\/www.consumersenergy.com\/about-us\/electric-generation\/coal\" target=\"_blank\" rel=\"noreferrer noopener\">utilities<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/www.climatepolicydashboard.org\/policies\/electricity\/coal-phaseouts\" target=\"_blank\" rel=\"noreferrer noopener\">states<\/a>&nbsp;that set goals to cut emissions striving to retire conventional energy sources like coal plants. Isaac added that companies like American Electric Power, in which BlackRock&nbsp;<a href=\"https:\/\/www.wallstreetzen.com\/stocks\/us\/nasdaq\/aep\/ownership\" target=\"_blank\" rel=\"noreferrer noopener\">owns<\/a>&nbsp;a significant stake, have been&nbsp;<a href=\"https:\/\/www.powermag.com\/aep-will-shutter-nearly-half-its-giant-coal-power-fleet-5-6-gw-by-2030\/\" target=\"_blank\" rel=\"noreferrer noopener\">decommissioning<\/a>&nbsp;coal plants and replacing them with intermittent sources like&nbsp;<a href=\"https:\/\/docs.aep.com\/docs\/sustainability\/2025-AEP-Sustainability-Report.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">solar<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWhat happens is when the wind stops blowing and the sun stops shining, then you have to ramp those generational assets back up, and that\u2019s when price spikes happen,\u201d Isaac said.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/dailycaller.com\/2025\/01\/10\/blackrock-exits-united-nations-backed-net-zero-coalition\/\" target=\"_blank\" rel=\"noreferrer noopener\">(RELATED: \u2018A Huge Win\u2019: Woke \u2018Cartel\u2019 Of Financial Giants Dealt Death Blow 11 Days Before Trump Takes Office)<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">University of North Carolina at Chapel Hill professor of finance Greg Brown told the AP that the reason behind these buyouts are \u201cvery simple. Because there\u2019s a lot of money to be made.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Other experts devoted to consumer protection like Executive Director of Consumers\u2019 Research Will Hild told the DCNF that investment companies like BlackRock stand to gain more than just a profit from these purchases.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThere is no world in which BlackRock\u2019s ownership of American energy benefits ordinary American consumers,\u201d Hild told the DCNF.&nbsp;\u201cThis is the same firm that proudly brought us the radical ESG rules and Net-Zero nonsense that forced all our energy bills to skyrocket. We wouldn\u2019t have the scourge of woke capitalism without Larry Fink, who already controls nearly $13 trillion in assets and has been sued for violating anti-trust laws.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">ESG investors&nbsp;<a href=\"https:\/\/www.forbes.com\/advisor\/investing\/esg-investing\/\" target=\"_blank\" rel=\"noreferrer noopener\">weigh<\/a>&nbsp;a company by its social and environmental choices as well as its finances in a move that&nbsp;<a href=\"https:\/\/dailycaller.com\/2023\/05\/02\/ron-desantis-signs-legislation-cracking-down-woke-ideology-financial-sector-esg\/\" target=\"_blank\" rel=\"noreferrer noopener\">critics<\/a>&nbsp;<a href=\"https:\/\/dailycaller.com\/2022\/07\/19\/house-republicans-esg-investing-woke-capital-jim-banks-andy-barr\/\" target=\"_blank\" rel=\"noreferrer noopener\">say<\/a>&nbsp;bogs down businesses with new costs while doing little to combat climate change. One August 2023 InfluenceMap&nbsp;<a href=\"https:\/\/influencemap.org\/report\/Asset-Managers-Climate-Change-2023-22976\" target=\"_blank\" rel=\"noreferrer noopener\">report<\/a>&nbsp;showed that as Republicans at the state level and in Congress ramped up their opposition to ESG-focused practices, BlackRock and other major U.S. asset managers decreased their support for climate-related resolutions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">BlackRock CEO Larry Fink also&nbsp;<a href=\"https:\/\/dailycaller.com\/2023\/06\/26\/larry-fink-esg-blackrock-investing\/\" target=\"_blank\" rel=\"noreferrer noopener\">said<\/a>&nbsp;in June 2023 that he no will no longer use the term ESG because it has been \u201cpoliticized,\u201d less than a year after he&nbsp;<a href=\"https:\/\/dailycaller.com\/2022\/09\/20\/blackrock-fink-esg-green\/\" target=\"_blank\" rel=\"noreferrer noopener\">noted<\/a>&nbsp;that climbing energy prices are \u201caccelerating\u201d the green energy transition.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cBlackRock has backpedaled on its ESG messaging and its aggressive, unapologetic imposition of ESG on everything they touch. But the leopard hasn\u2019t changed its spots,\u201d President of the Heartland Institute James Taylor told the DCNF. \u201cIt still has the same management group with the same values, and it\u2019s still doing whatever it can to impose ESG on everything it touches, in actuality, if not in name.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Taylor argued that whether BlackRock buys or acquires a large stake of a utility, it \u201ccan now assert itself over legislatures in dictating energy policy.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Notably, the Federal Trade Commission (FTC) and the Department of Justice (DOJ)&nbsp;<a href=\"https:\/\/dailycaller.com\/2025\/05\/22\/trump-admin-backs-antitrust-suit-esg-protect-coal\/\" target=\"_blank\" rel=\"noreferrer noopener\">threw their weight<\/a>&nbsp;behind an antitrust lawsuit against major asset managers that alleges the firms colluded to tank coal production with their embrace of zero-emissions goals in May.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The&nbsp;<a href=\"https:\/\/cdn01.dailycaller.com\/wp-content\/uploads\/2025\/05\/States-v-BlackRock-Complaint-Filed.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">lawsuit<\/a>, backed by 11 state attorneys general, alleges that BlackRock and multiple other asset managers used their market power to suppress coal production, thereby hurting consumers by causing the price of coal to climb.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The DOJ and FTC\u2019s \u201csupport for this baseless case undermines the Trump Administration\u2019s goal of American energy independence,\u201d a BlackRock spokesperson&nbsp;<a href=\"https:\/\/dailycaller.com\/2025\/05\/22\/trump-admin-backs-antitrust-suit-esg-protect-coal\/\" target=\"_blank\" rel=\"noreferrer noopener\">previously<\/a>&nbsp;told the DCNF. \u201cAs we made clear in our earlier motion to dismiss, this case is trying to re-write antitrust law and is based on an absurd theory that coal companies conspired with their shareholders to reduce coal production.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Blackstone did not respond to the DCNF\u2019s multiple requests for comment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter\u2019s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact&nbsp;<a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major global asset managers including BlackRock and Blackstone have been looking to buy power utilities across America in a move that some industry insiders warn could harm consumers, raise electricity costs and advance a climate-driven energy agenda.<\/p>\n","protected":false},"author":121246920,"featured_media":408735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"Explore how BlackRock and Blackstone's utility buyouts could raise electricity costs and reshape America's energy landscape amid climate mandates.","jetpack_seo_html_title":"BlackRock and Blackstone: The Future of U.S. Utilities","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691822666,691819146,691838900,691824503,691830720,691818229,691820640,691818154],"class_list":{"0":"post-408728","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-artificial-intelligence-ai","9":"tag-blackrock","10":"tag-blackstone","11":"tag-electricity-costs","12":"tag-energy-agenda","13":"tag-esg","14":"tag-larry-fink","15":"tag-net-zero","17":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/10\/0AQPPtzyc8-7lHk_1ot_GwVQLCyx1JPyV9H_b7ZDRzZryJ_PSSa-9E_txVnss6nF24XD0Dbiv72QvIzNiQMr49xzHjpBL6oSTYnn47QiPZuwCI4HySOt2_hHIV4yEVh25-1.jpeg?fit=1385%2C916&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1Iko","jetpack-related-posts":[{"id":434075,"url":"https:\/\/climatescience.press\/?p=434075","url_meta":{"origin":408728,"position":0},"title":"BlackRock CEO Abandons Climate Delusion for Investor Needs","author":"uwe.roland.gross","date":"25\/03\/2026","format":false,"excerpt":"BlackRock CEO Larry Fink has publicly shifted toward what he calls energy pragmatism, admitting that society now demands a balanced approach to meeting power needs rather than adherence to rigid climate agendas. This could be a pivotal moment for global energy policy, as one of the planet\u2019s most powerful financial\u2026","rel":"","context":"In \"BlackRock\"","block_context":{"text":"BlackRock","link":"https:\/\/climatescience.press\/?tag=blackrock"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/03\/AQMqMmQokZhSf57SBrGq5qSj2FQwPYb2-n_Ng4m6m67EzBc7AXMfJGrcc4s2UNxzgaOT4IuGptXkJts-82fhSxEL_iJvzs_0V-VRho-zcQ5OAucO6ES3HVVgAM9QTKg3CwpmPaq2KHkhYtfGenKKTbW7dfMvcg.jpeg?fit=1200%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/03\/AQMqMmQokZhSf57SBrGq5qSj2FQwPYb2-n_Ng4m6m67EzBc7AXMfJGrcc4s2UNxzgaOT4IuGptXkJts-82fhSxEL_iJvzs_0V-VRho-zcQ5OAucO6ES3HVVgAM9QTKg3CwpmPaq2KHkhYtfGenKKTbW7dfMvcg.jpeg?fit=1200%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/03\/AQMqMmQokZhSf57SBrGq5qSj2FQwPYb2-n_Ng4m6m67EzBc7AXMfJGrcc4s2UNxzgaOT4IuGptXkJts-82fhSxEL_iJvzs_0V-VRho-zcQ5OAucO6ES3HVVgAM9QTKg3CwpmPaq2KHkhYtfGenKKTbW7dfMvcg.jpeg?fit=1200%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/03\/AQMqMmQokZhSf57SBrGq5qSj2FQwPYb2-n_Ng4m6m67EzBc7AXMfJGrcc4s2UNxzgaOT4IuGptXkJts-82fhSxEL_iJvzs_0V-VRho-zcQ5OAucO6ES3HVVgAM9QTKg3CwpmPaq2KHkhYtfGenKKTbW7dfMvcg.jpeg?fit=1200%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/03\/AQMqMmQokZhSf57SBrGq5qSj2FQwPYb2-n_Ng4m6m67EzBc7AXMfJGrcc4s2UNxzgaOT4IuGptXkJts-82fhSxEL_iJvzs_0V-VRho-zcQ5OAucO6ES3HVVgAM9QTKg3CwpmPaq2KHkhYtfGenKKTbW7dfMvcg.jpeg?fit=1200%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":254272,"url":"https:\/\/climatescience.press\/?p=254272","url_meta":{"origin":408728,"position":1},"title":"Peak ESG is behind us: They\u2019ve stopped bragging about environmental wokeness.","author":"uwe.roland.gross","date":"23\/04\/2023","format":false,"excerpt":"Wall Street\u2019s largest asset managers, private equity firms and brokers have warned that a backlash against sustainable investing is now a material risk, in filings that show how acrimony over ESG principles has become a perceived threat to profits.","rel":"","context":"In \"climate deniers\"","block_context":{"text":"climate deniers","link":"https:\/\/climatescience.press\/?tag=climate-deniers"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/04\/00esg_blog.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/04\/00esg_blog.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/04\/00esg_blog.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/04\/00esg_blog.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/04\/00esg_blog.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":214404,"url":"https:\/\/climatescience.press\/?p=214404","url_meta":{"origin":408728,"position":2},"title":"19 US States fight back against BlackRock the Political Climate Police disguised as a Monster Investment Fund","author":"uwe.roland.gross","date":"19\/08\/2022","format":false,"excerpt":"A light in the tunnel\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/08\/0image-795.png?fit=1000%2C541&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/08\/0image-795.png?fit=1000%2C541&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/08\/0image-795.png?fit=1000%2C541&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/08\/0image-795.png?fit=1000%2C541&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":202023,"url":"https:\/\/climatescience.press\/?p=202023","url_meta":{"origin":408728,"position":3},"title":"BlackRock CEO Larry Fink responds to CFACT question at shareholders meeting","author":"uwe.roland.gross","date":"29\/05\/2022","format":false,"excerpt":"SAN FRANCISCO, CA JULY 1, 2018: BlackRock financial services logo outside of office in San Francisco At BlackRock\u2019s annual meeting of shareholders CEO Larry Fink was confronted with a question by CFACT on the highly controversial use of ESG scoring (Environmental, Social, and Governance) by the investing giant. CFACT asked:\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/05\/0BlackRock.jpg?fit=799%2C599&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/05\/0BlackRock.jpg?fit=799%2C599&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/05\/0BlackRock.jpg?fit=799%2C599&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/05\/0BlackRock.jpg?fit=799%2C599&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":223492,"url":"https:\/\/climatescience.press\/?p=223492","url_meta":{"origin":408728,"position":4},"title":"Louisiana Fires Shot Across BlackRock\u2019s ESG Bow","author":"uwe.roland.gross","date":"12\/10\/2022","format":false,"excerpt":"The \u201cLouisiana Treasury will liquidate all BlackRock investments by the end of 2022.\u201d","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/10\/image-560.png?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/10\/image-560.png?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/10\/image-560.png?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/10\/image-560.png?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/10\/image-560.png?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":273342,"url":"https:\/\/climatescience.press\/?p=273342","url_meta":{"origin":408728,"position":5},"title":"New Zealand Partners with BlackRock to hit 100% Renewables","author":"uwe.roland.gross","date":"14\/08\/2023","format":false,"excerpt":"The question is, what does BlackRock intend to do, to help New Zealand achieve Net Zero?","rel":"","context":"In \"BlackRock\"","block_context":{"text":"BlackRock","link":"https:\/\/climatescience.press\/?tag=blackrock"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/08\/image-549.png?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/08\/image-549.png?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/08\/image-549.png?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/08\/image-549.png?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/08\/image-549.png?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/408728","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/users\/121246920"}],"replies":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=408728"}],"version-history":[{"count":6,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/408728\/revisions"}],"predecessor-version":[{"id":408737,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/408728\/revisions\/408737"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/media\/408735"}],"wp:attachment":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=408728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=408728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=408728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}