The Lawrence Energy Center in Kansas burns coal for electric power. A federal lawsuit filed by 11 Republican attorneys general claims institutional investors BlackRock, Vanguard and State Street committed antitrust violations to lower supply and increase the cost of coal. (Jill Hummels/Kansas Reflector) Major institutional investors have artificially lowered coal production and raised energy costs for consumers in an effort to lower global carbon emissions, a federal lawsuit claims. Republican attorneys general in 11 states filed a joint lawsuit last month against BlackRock, Vanguard and State Street, claiming the organizations’ efforts to pressure coal companies to lower carbon emissions and respond to climate change amount to anti-competitive business practices. All three companies, the lawsuit says, have acquired significant shares in the largest publicly-traded coal companies to coerce their management. “For the past four years, America’s coal producers have been responding not to the price signals of the free market, but to the commands of Larry Fink, BlackRock’s chairman and CEO, and his fellow asset managers,” the lawsuit says. BlackRock is the world’s largest financial asset manager. The case was in U.S. District Court for the Eastern District of Texas on behalf of the states of Texas, Alabama, Arkansas, Indiana, Iowa, Kansas, Missouri, Montana, Nebraska, West Virginia and Wyoming. The case asks the court to find that the companies have violated federal antitrust laws and prohibit them from using their stock holdings in coal companies to limit output. In a statement, State Street called the lawsuit “baseless.” “State Street acts in the long-term financial interests of investors with a focus on enhancing shareholder value,” the company said. “As long-term capital providers, we have a mutual interest in the long-term success of our portfolio companies.” In 2020, Fink wrote in a letter to CEOs that “climate risk is investment risk” and announced efforts to “place sustainability at the center of our investment approach.” He said companies and investors had a meaningful role to play in the transition from fossil fuels and coal to clean energy. The following year, BlackRock, State Street and Vanguard joined the Net Zero Asset Managers Initiative, acknowledging an “urgent need to accelerate the transition towards global net zero emissions” and committing to work to reduce carbon emissions. Black Rock and State Street also signed onto Climate Action 100+, a similar initiative where investors work with companies “on improving climate change governance, cutting emissions and strengthening climate-related financial disclosures. Burning coal produces carbon dioxide, the most prevalent greenhouse gas and a significant drive of climate change, scientists say. It also produces sulfur dioxide, particulates and other emissions that can be harmful to human health. Coal made up 19% of energy-related carbon emissions in 2022 and more than half of emissions from electric power companies, according to the Energy Information Administration . In a press release, Nebraska Attorney General Mike Hilgers’ office accused the three companies of weaponizing their shares of the coal market. “Whether it comes from state or federal governments or the private sector,” Hilgers said, “the radical climate agenda harms Nebraskans.” Missouri Attorney General Andrew Bailey vowed to “not stand idly by while these companies hamper energy production and raise prices for Missouri consumers.” Indiana Attorney General Todd Rokita’s office said in a press release that he was “taking further action to stop work corporatists and their left-leaning allies in government from driving up energy costs for hardworking Hoosiers.” “Coal has been the backbone of Indiana’s economic success for decades,” Rokita said. “The demand for electricity has gone up and these (environmental, social and governance) titans are reaping the benefits of these skyrocketed prices by keeping their thumb on production.” And Iowa Attorney General Brenna Bird said she would keep “fighting until we take down every cog of the woke machine and protect hardworking families and farmers.” “While Woke Wall Street lines its own pockets,” Bird said, “families and farmers are forced to pay the price.” SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOXBut to the shock and disbelief of the spectators, the referee chose to stick with his original decision, citing a lack of clear and obvious error in his initial judgment. The decision sparked a furious reaction from the Wolves' players and coaching staff, who believed that justice had been denied to them in a crucial moment of the game. The VAR controversy reared its ugly head once again, with calls for a review and potential overhaul of the system gaining momentum.In his new role, Guan Zhi'ou is expected to focus on a wide range of issues, including promoting economic diversification, strengthening environmental protection measures, improving healthcare and education services, and enhancing the overall quality of life for the people of Shanxi Province. His experience in fostering public-private partnerships, attracting foreign investment, and implementing strategic development plans will be invaluable in advancing the province's socio-economic agenda.
In a world often filled with negativity and strife, the story of Mrs. Lee and Mr. Jenkins remind us that simple acts of kindness have the power to transcend barriers, touch hearts, and bring people closer together. It is a reminder that no act of kindness, no matter how small, is ever wasted, and that together, we can create a world filled with compassion, empathy, and love.The rumor of the impending strict vehicle inspection has been propagated through various social media platforms and messaging apps, garnering attention and sparking fear among individuals. The claims suggest that vehicles will undergo extensive and costly inspections, with severe penalties for those who fail to meet the new criteria. As a result, many people have expressed concerns about the potential financial burden and inconvenience this purported inspection may bring.Japanese restaurant Sizka will close in Canton
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As the world watches in horror, the people of Haiti are left to pick up the pieces and rebuild their shattered lives. The road to recovery will be long and arduous, but the resilience and strength of the Haitian people cannot be underestimated.
The parents' claims originated from their observations of the winter uniforms provided by the school for their children. Upon closer inspection, they noticed that the filling used in the jackets and coats appeared to be made of shredded cloth rather than traditional insulating materials such as down or synthetic fibers. This discovery raised concerns among the parents regarding the warmth, durability, and overall quality of the uniforms. Additionally, some parents questioned whether the shredded cloth filling posed any health risks to their children, such as potential allergies or discomfort.In addition to the domestic factors, the global economic landscape also contributed to the bullish trend in the A-share market. The easing of trade tensions between major economies, favorable international market conditions, and improved investor confidence in global markets all created a conducive environment for the A-share market to flourish.