Finance Titans May Have Found Trojan Horse for ‘Climate Mandates’
Update: 2025-10-14
Description
Major global asset managers including BlackRock and Blackstone have been looking to buy power utilities across America in a move that some industry insiders warn could harm consumers, raise electricity costs and advance a climate-driven energy agenda.
In recent months, Blackstone reportedly sought regulatory approval to buy utilities in New Mexico and Texas all while a BlackRock-led group won approval Friday to purchase a major utility in Minnesota. While BlackRock and other huge asset managers have distanced themselves from environmental, social and governance (ESG) investment practices in recent years, some energy experts and consumer advocates that spoke to the Daily Caller News Foundation are concerned that buying up utilities may represent a new frontier of financial giants orchestrating “climate mandates.”
In recent months, Blackstone reportedly sought regulatory approval to buy utilities in New Mexico and Texas all while a BlackRock-led group won approval Friday to purchase a major utility in Minnesota. While BlackRock and other huge asset managers have distanced themselves from environmental, social and governance (ESG) investment practices in recent years, some energy experts and consumer advocates that spoke to the Daily Caller News Foundation are concerned that buying up utilities may represent a new frontier of financial giants orchestrating “climate mandates.”
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