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Vanguard

Texas Suit Alleging Anti-Coal ‘Cartel’ of Top Wall Street Firms Could Reshape ESG—and Wall Street Itself

Republican attorneys general accuse three of the world’s biggest asset managers of conspiring to depress U.S. coal output. It’s a first-of-its-kind and closely watched test of whether corporate alliances on climate efforts violate antitrust laws.

By Deep Vakil

The headquarters for BlackRock in New York City. Credit: Gary Hershorn/Getty Images

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