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GOP Attorneys General Seeking to Prevent Vanguard From Purchasing Utilities Over Climate Agenda

GOP Attorneys General Seeking to Prevent Vanguard From Purchasing Utilities Over Climate Agenda
A coal truck drives by Pacificorp's 1000 megawatt coal fired power plant on October 9, 2017 outside Huntington, Utah. George Frey/Getty Images
Naveen Athrappully
Naveen Athrappully
12/1/2022|Updated: 12/1/2022
0:00

A coalition of 13 Republican attorneys general filed a “motion to intervene” on Monday, asking a federal energy regulator to block The Vanguard Group from buying shares of publicly listed utility firms due to its decarbonization goals.

In February, Pennsylvania-based Vanguard asked the Federal Energy Regulatory Commission (FERC) to extend the blanket authorization granted in 2019 to buy large quantities of shares in utility firms. Section 203 of the Federal Power Act (FPA) does not allow the firm to own over $10 million worth of public utility shares until it gains authorization from FERC.

Naveen Athrappully
Naveen Athrappully
Author
Naveen Athrappully is a news reporter covering business and world events at The Epoch Times.
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Related Topics
Vanguard
ESG Standards
climate change agenda
PacifiCorp
investing in utility companies
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