Michael Copley
👤 SpeakerAppearances Over Time
Podcast Appearances
In 2024, state attorneys general sued Vanguard, along with the firm's BlackRock and State Street, for allegedly using their investments to pressure coal companies to cut production.
Lawyers for all three firms have denied the allegations.
But Vanguard has agreed to pay $29.5 million to settle the allegations.
The firm also said it won't push companies it's invested in to take particular actions to cut climate pollution.
BlackRock and State Street weren't part of the agreement.
has been moving away from coal to generate electricity in favor of cheaper natural gas and renewable energy.
The Energy Information Administration expects coal generation to fall by 6 percent this year and 4 percent in 2027.
In 2024, state attorneys general sued Vanguard, along with the firms BlackRock and State Street, for allegedly using their investments to pressure coal companies to cut production.
Lawyers for all three firms have denied the allegations.
But Vanguard has agreed to pay $29.5 million to settle the allegations.
The firm also said it won't push companies it's invested in to take particular actions to cut climate pollution.
BlackRock and State Street weren't part of the agreement.
has been moving away from coal to generate electricity in favor of cheaper natural gas and renewable energy.
The Energy Information Administration expects coal generation to fall by 6 percent this year and 4 percent in 2027.
Late last month, part of a decades-old sewer line in Maryland collapsed, sending hundreds of millions of gallons of wastewater into the Potomac River.