Secretary of State’s office announces settlement with investment firm

Mississippi Secretary of State Michael Watson says his office has reached a settlement with a large investment company over concerns about the investment firm’s use of environmental, social, and governance policies.

Watson issued a cease-and-desist order against Blackrock in 2024, alleging the company did not fully disclose how ESG factors could influence investment decisions.

As part of the agreement, Blackrock says it has scaled back some of its climate-related affiliations and removed ESG ratings from some fund pages.

The company will also provide one million dollars to support financial literacy programs in Mississippi.

In a statement, Watson says this is a major step forward to ensuring that Mississippians who invest with Blackrock have confidence in how their money will be managed by the firm.