State AGs Want FERC Hearing on Vanguard’s Utility Holdings

A coalition of 13 states — including Ohio — have opened a new line of attack against corporate environmental, social and governance (ESG) policies. The states’ attorneys general are asking the FERC to hold a hearing on investment firm Vanguard’s attempt to expand its ownership of utility shares in light of what the AGs are calling the firm’s “environmental activism.”

The AGs say Vanguard has pledged $8.5 trillion “to pressure utility companies to eliminate fossil fuels.” FERC should ensure Vanguard’s “activism will not lead to electricity price hikes and grid instability,” said Utah’s Republican AG Sean Reyes. 12/1/2022