{"database": "press", "table": "releases", "rows": [["https://www.cotton.senate.gov/news/press-releases/cotton-demands-answers-from-blackrock-about-involvement-with-climate-action-100-potential-antitrust-violations", "Cotton Demands Answers from BlackRock About Involvement with Climate Action 100+, Potential Antitrust Violations", "2022-07-14", "2022", "2022-07", "Republican", "Senate", "AR", "Tom Cotton", "C001095", "www.cotton.senate.gov", "cotton", "https://www.cotton.senate.gov/news/press-releases", "scraper", "FOR IMMEDIATE RELEASEContact: James Arnold or Mary Collins Atkinson (202) 224-2353\n\nJuly 14, 2022\n\nCotton Demands Answers from BlackRock About Involvement with Climate Action 100+, Potential Antitrust Violations\n\nWashington, D.C. \u2014 Senator Tom Cotton (R-Arkansas) last night sent a letter to Larry Fink, Chairman and CEO of BlackRock Inc., demanding answers about the firm\u2019s involvement in a scheme to reduce drilling for oil and gas that may violate antitrust law.\n\nIn part, Cotton wrote, \u201cBlackRock is an \u2018investor participant\u2019 in Climate Action 100+ (\u2018CA100+\u2019), \u2018an investor-led initiative\u2019 to pressure \u2018the world\u2019s largest corporate greenhouse gas emitters [to] take necessary action on climate change\u2019 like, for example, pressuring oil companies to drill for less oil. According to CA100+, \u2018investor participants\u2019 are \u2018signatories to the initiative and are responsible for direct engagements with focus companies\u2019 that directly compete with one another.\u201d\n\n\u201cYour anti-drilling coercion threatens our national security, hurts Americans struggling to buy a tank of gas, and appears to violate antitrust laws. Specifically, by engaging with competing \u2018focus companies,\u2019 CA100+ investor participants appear to be running a spoke-and-hub conspiracy to restrict the supply of fossil fuels and impose various other unlawful restraints on trade. By \u2018collaborating\u2019 with other investors, you and your fellow CA100+ investor participants appear to be acting like a climate cartel,\u201d Cotton continued.\n\nText of the letter may be found here and below.\n\nMr. Larry Fink\n\nChairman and Chief Executive Officer\n\nBlackRock Inc.\n\n55 East 52nd Street\n\nNew York, NY 10055\n\nDear Mr. Fink,\n\nI'm writing about your involvement in a scheme to reduce drilling for oil and gas.\n\nBlackRock is an \"investor participant\" in Climate Action 100+ (\"CA100+\"), \"an investor-led initiative\" to pressure \"the world's largest corporate greenhouse gas emitters [to] take necessary action on climate change\" like, for example, pressuring oil companies to drill for less oil. According to CA100+, \"investor participants\" are \"signatories to the initiative and are responsible for direct engagements with focus companies\" that directly compete with one another.\n\nYour anti-drilling coercion threatens our national security, hurts Americans struggling to buy a tank of gas, and appears to violate antitrust laws. Specifically, by engaging with competing \"focus companies,\" CA100+ investor participants appear to be running a spoke-and-hub conspiracy to restrict the supply of fossil fuels and impose various other unlawful restraints on trade. By \"collaborating\" with other investors, you and your fellow CA100+ investor participants appear to be acting like a climate cartel.\n\nIn light of the growing concerns about anti-competitive ESG activities, many law firms have begun offering antitrust counsel to clients participating in initiatives like CA100+.\n\nPlease provide answers to the following questions by July 20, 2022:\n\nHas BlackRock engaged with any focus companies as part of the CA100+ initiative? If so, please list each focus company.\n\nHas BlackRock collaborated with any other investor participants as part of the CA100+ initiative? If so, please list each investor participant.", 1, "2026-03-30T01:40:41Z", "2026-04-08T02:49:02Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.cotton.senate.gov/news/press-releases/cotton-demands-answers-from-blackrock-about-involvement-with-climate-action-100-potential-antitrust-violations"], "units": {}, "query_ms": 3.322503063827753, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}