BlackRock Is Accused of a Plot Against Coal. The Firm Says That’s ‘Absurd.’

Texas is suing investment giant BlackRock and other firms, accusing them of illegally teaming up to undermine the coal industry under the guise of fighting climate change. BlackRock calls the claim "absurd," and a judge just heard arguments on whether to toss the case. Texas AG Ken Paxton, known for his conservative crusades, launched this legal battle back in 2022—it’s part of a bigger clash between red states and Wall Street over environmental policies.