House Judiciary Chairman Jim Jordan is close to finalizing subpoenas for BlackRock Inc., Glass Lewis, State Street and Institutional Shareholder Services for documents related to the committee’s investigation into whether its efforts to combat climate change violate U.S. antitrust law, according to a person familiar with the matter.
The panel is investigating allegations by critics of these investment firms that they colluded to commit to making the investments. The investigation highlights the deterioration of the relationship between the Republican Party and Wall Street.
Jordan, an Ohio Republican, on Monday cited Vanguard Group Inc. and Arjuna Capital as part of the environmental, social and governance investment investigation, or ESG, as a follow-up to cooperation requests in July and August.
BlackRock declined to comment late Tuesday. Last month, Jordan cited As You Sow and the Glasgow Financial Alliance for Net Zero (Gfanz) to submit documents.
(Gfanz is co-chaired by Mark Carney, chairman of Bloomberg Inc. and former governor of the Bank of England, and Michael R. Bloomberg, founder of Bloomberg LP, parent of Bloomberg News.)