1665045256 Nobel Prize in Medicine to Svante Paabo for Origin of

Nobel Prize in Medicine to Svante Pääbo for Origin of Paleogenomics Medscape

The 2022 Nobel Prize in Physiology or Medicine was awarded to Prof. Svante Pääbo, Ph.D., for his work on extinct hominin genomes and for his new insights into human evolution. Pääbo is considered the founder of paleogenetics.[1]

Nobel Prize in Medicine to Svante Paabo for Origin of

Svante Pääbo, Ph.D.

Pääbo conducts research at the Max Planck Institute for Evolutionary Anthropology in Leipzig and at the University of Leipzig, both in Leipzing, Germany. His research also showed, among other things, that archaic gene sequences from our extinct relatives influence the physiology of modern humans.

By examining the genome of Neanderthal man – who was the first to sequence it – and comparing it to that of living humans, “his discoveries lay the foundation for exploring what makes us unique human beings,” according to the jury.

Neanderthal genome sequencing

From the beginning of his career, Pääbo investigated the possibility of using modern genetic methods to study Neanderthal DNA. He soon faced extreme technical difficulties due to the degradation of nucleotide chains over time. During his postdoctoral studies at the University of California, Berkeley, USA, after completing a dissertation in 1986 with Allan Wilson, a pioneer in the field of evolutionary biology, Pääbo began developing methods for studying Neanderthal DNA. a work that spanned several decades.

In 1990 the researcher was hired at the University of Munich in Munich, Germany, where he continued his work on archaic DNA as a newly appointed professor, with a particular interest in Neanderthal mitochondrial DNA. Although the mitochondrial genome is small, containing only a fraction of the cell’s genetic information, it has the advantage of being present in thousands of copies, increasing the chances of success. Thanks to the techniques he developed, Pääbo was able to sequence a region of mitochondrial DNA from a 40,000-year-old bone. Comparisons with modern-day humans and chimpanzees have shown that Neanderthals are a genetically distinct species.

In 1997, the Swedish biologist founded a paleogenetic research center within the Max Planck Institute for Evolutionary Anthropology, where he tackled the sequencing of the genome, not mitochondrial but nuclear, of the Neanderthal thanks to new technical developments that allowed the sequencing of the DNA is very efficient. Pääbo also invited several key collaborators specializing in population genetics. His efforts were crowned with success, because in 2010 the researcher published the first sequence of the Neanderthal genome. Comparative analyzes show that the most recent common ancestor of Neanderthals and Homo sapiens lived around 800,000 years ago.

Neanderthals versus Homo Sapiens
Research has provided evidence that anatomically modern humans, Homo sapiens, emerged in Africa around 300,000 years ago, while our closest known relatives, the Neanderthals, evolved outside of Africa and populated Europe and western Asia from around 400,000 years to 30,000 years ago . when they died out. About 70,000 years ago groups of Homo sapiens migrated from Africa to the Middle East and from there across the rest of the world. Homo sapiens and Neanderthals coexisted across much of Eurasia for tens of thousands of years.

A sensational discovery: Denisova

In 2008, a 40,000-year-old finger bone fragment was discovered in Denisova Cave in southern Siberia. The bone contained exceptionally well-preserved DNA, which Pääbo’s team sequenced. The results caused a stir: the DNA sequence was unique compared to all known Neanderthal and modern human sequences. Pääbo had discovered a previously unknown hominid that was given the name Denisova. Comparisons with sequences from contemporary humans from different parts of the world showed that gene flow also occurred between Denisova and Homo sapiens. This relationship was first observed in populations from Melanesia and other parts of Southeast Asia.

What do the discoveries of Nobel Prize winner Svante Pääbo contribute?

Essentially to better understand the history of our evolution. At least two extinct hominin populations lived in Eurasia at the time Homo sapiens migrated from Africa. Neanderthals lived in western Eurasia, while Denisovans populated the eastern parts of the continent. During their expansion out of Africa and their eastward migration, Homo sapiens encountered and interbred with not only Neanderthals but also Denisovans.

Physiologically, paleogenomic work indicates that archaic genetic sequences influence modern humans. Like the Denisovan version of the EPAS1 gene, which confers a high-altitude survival advantage and is widespread among modern Tibetans. He also found that gene transfer occurred between these now-extinct hominins and Homo sapiens after they migrated from Africa about 70,000 years ago. This ancient flow of genes to modern humans has physiological significance today, for example by influencing how our immune system responds to infections.

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US government disappointed by OPEC decision on oil production Boerse

ROUNDUP: US government disappointed by OPEC+ decision on oil production Boerse express.com

WASHINGTON (dpa-AFX) – The US government has described the OPEC+ oil alliance’s decision to reduce oil production as “shortsighted” and a “mistake”. US President Joe Biden was disappointed by this, Biden’s national security adviser Jake Sullivan and White House National Economic Council director Brian Deese said on Wednesday. At a time when maintaining the global energy supply is of paramount importance, this decision will have a particularly negative impact on low- and middle-income countries.

White House spokeswoman Karine Jean-Pierre called the oil production cut “wrong” and a “mistake”. The oil alliance made a decision that only served its own interests. “It is clear that with today’s announcement, OPEC+ is an ally of Russia,” said Jean-Pierre.

Given the planned supply shortages, Biden also wants to consult with Congress on additional tools and powers to loosen OPEC’s grip on energy prices, he said. More recently, US gasoline prices have fallen back a bit. For Biden’s Democrats, this was especially important just before Congressional elections in November. High inflation in the country particularly affected the US president’s party in polls./nau/DP/stw

AXC0297 2022-10-05/19:23

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King Charles III has to pay the rent to his

King Charles III has to pay the rent to his son William

With the accession to the throne of Charles IIIhis eldest son Wilhelm it has not only become Prince of Wales on paternal investiture, but he also automatically inherited the title of one Duke of Cornwall, which belonged to his father until a month ago. Along with the title Wilhelm came into possession of the entire duchyan area of ​​52,449 hectares, the property value of which is estimated at around £345 million 400 million euros.

According to reports in the British press The Duchy of Cornwall’s net income is £21 million per year, which are transferred en masse from Carlo’s coffers to those of his eldest son. This number includes Castles, estates, farms and rentswhich Carlo – according to the Guardian – always has paid the maximum UK income tax rate. Taxes William now has to pay, albeit (at least in part) with Dad’s money, thanks to a bureaucratic gossip.

In fact, among properties that change hands, there are those too Highgrove Castle, GloucestershirePurchased by the Duchy of Cornwall in 1980 and chosen as the family home (and place of heart) of Charles who retired here in mourning after the death of his motherto Queen Elizabeth.

As Duke of Cornwall the king was hitherto the owner and resided there on a twenty-year lease agreed with the Duchy itself. But today, if he doesn’t want to pack up and move, he has to pay the new duke – the son – rent of £700,000 a year.

What will not waterInstead, it will be the lease of Duchy Originals Farm, la organic farm founded by Carlo himself in the 80’s (when nobody was growing organic crops) whose products are now sold in major UK supermarkets. Last April, Carlo did not renew the lease for the property – which are now in the hands of new tenants – and announced that it would continue its organic production in Norfolkat Sandringham.

But the Duchy of Cornwall isn’t the only legacy William will have to manage from now on. It seems that in the Reorganization of all propertiesthe king wants to give in to his eldest son and daughter-in-law Kate Middleton also a 17th century mansion: Frogmore housefound in the Windsor estate.

That writes the sun King Charles thinks the castle is ‘too loud’due to its proximity to Heathrow Airport, and believes that for a stay in a central location you might as well stop directly in London Buckingham Palace. For what reason would the sovereign have to “Get rid ofSlightly from the noisy mansion passing it on to his son William who on the other hand is so happy in Windsor.

In fact, Frogmore House is only a stone’s throw awayAdelaide Cottagewhere Kate and William did are transferred no more than a month ago and left the largest and most central Kensington Palace. The princes have not yet decided what to do with it, according to British tabloids generous gift from the kingbut although the castle is still nearby Lambbrook School in which they have registered their children, it is difficult to imagine that they would want to undertake this another move.

“Nothing is set in stone, the prince has time to make up his mind,” an insider commented to the Chron, underscoring the fact Frogmore House is not really a castle to be left to the ghosts. It was built in 1684 by architect Hugh May and was a favorite of the Queen Charlotte, wife of George III. Passed down from father to son over the years, it is now mainly used for events. For example, they celebrated their wedding here in 2018, Harry and Megan. In fact, it would have been a nice gesture on Carlo’s part to give it to them.

Other Vanity Fair stories you might be interested in:

King Charles, Camilla, William and Kate: the new official photo (hand in pocket)

Harry and Meghan Markle have been ‘downgraded’ on the British royal family’s official website.

Death of Queen Elizabeth II, the (official) causes revealed

Sign up to receive newsletters from the Windsors and other royal families Vanity Royal clock

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Lena Dunham shows off her leggy legs in a floral

Lena Dunham shows off her leggy legs in a floral bodysuit as she poses for snaps

Lena Dunham shows up leggy in a printed bodysuit as she poses for snaps before appearing on the chat show

Lena Dunham shows off her legs as she posed for a slew of snaps ahead of her appearance on The Late Late Show on Wednesday.

The 36-year-old actress slipped into a stunning fruit-print bodysuit and cropped puff-sleeved jacket as she took to Instagram to show off her ensemble.

She recorded her story, throwing her head back against a glass door in a fun, dramatic pose while her pooch appeared for the snap.

Stunning: Lena Dunham, 36, showed off her leggy legs as she posed for a slew of snaps ahead of her appearance on The Late Late Show on Wednesday

Stunning: Lena Dunham, 36, showed off her leggy legs as she posed for a slew of snaps ahead of her appearance on The Late Late Show on Wednesday

Lena upped her height with a matching pair of stilettos, writing, “This bodysuit deserves another chance — sans pants.”

In another photo carousel, she paired the bodysuit with cargo pants before heading out to star on James Corden’s talk show.

Alongside the post, she wrote: “Leotard & cargo pants for @latelateshow with @J_corden she asked? Well, surely the Lord said.’

Chic: The actress slipped into a stunning fruit print bodysuit and cropped puff sleeve jacket as she took to Instagram to show off her ensemble

Chic: The actress slipped into a stunning fruit print bodysuit and cropped puff sleeve jacket as she took to Instagram to show off her ensemble

Lena continued, “This is an outfit that 5-year-old Lena Work aaalll gave her permission for… See you.” [sofa]’

It comes after Lena drew a hail of criticism on Sunday when the actress posted a query on Twitter that rubbed people the wrong way.

“If I go, I want my coffin to be wheeled through New York’s Pride parade with a plaque that says ‘She wasn’t for everyone, but she *was* for us” — who can arrange that? ‘ said the Girls star, 36, on Sunday.

Outfit of the day: In another photo carousel, she paired the bodysuit with cargo pants before heading out to star on James Corden's talk show

Outfit of the day: In another photo carousel, she paired the bodysuit with cargo pants before heading out to star on James Corden’s talk show

A number of users questioned exactly why Dunham was being honored by the LGBTQ community.

“And what have you ever done for LGBTQ? Sis you’re not a gay icon,” said one user, while another said, “Pride is for us, not to satisfy the egos of straight people who see us as accessories.”

One user said, “This is called gay pride, not straight shame,” while another added, “Girls no. we don’t claim you like that.’

Oops: It comes after Lena sparked a hailstorm of criticism on Sunday when the actress posted a query on Twitter that rubbed people the wrong way (pictured in London last month)

Oops: It comes after Lena sparked a hailstorm of criticism on Sunday when the actress posted a query on Twitter that rubbed people the wrong way (pictured in London last month)

Drama: The actress requested that her coffin be wheeled through New York's Pride parade after her death

Drama: The actress requested that her coffin be wheeled through New York’s Pride parade after her death

Said one user, “Um…we’ll pass, but thanks for the offer?”

Some people wondered why Dunham assumed the LGBTQ community would make her a focal point of the Pride march.

The 2014 Golden Globe winner received the Horizon Award from gay advocacy Point Foundation, which is dedicated to “a young pioneer who has taken a leadership role as an advocate for the LGBTQ community,” according to The Hollywood Reporter.

1665045136 970 Lena Dunham shows off her leggy legs in a floral 1664757518 193 Lena Dunham lashed out after saying she wanted her coffin What?  A number of users asked exactly why Lena was honored by the LGBTQ community

What? A number of users asked exactly why Lena was honored by the LGBTQ community

At a gala where she received the award in April 2014, the New York native said she was “disappointed” that she isn’t gay, since her sister Grace came out when she was 17.

“I’ve always felt a strong and emotional connection with members of the LGBTQ community,” she said. “It was actually a huge disappointment for me when I came of age and realized that I was sexually attracted to men.”

“When my sister came out, I thought, ‘Thank God, now someone in this family can truly represent my beliefs and passions.’

Dunham has in the past been at the center of controversy over statements she has made over the years

Attention?  A number of users posted memes joking that the Sharp Stick director and actress put her foot in her mouth or was using the tweet to fish for attention

Attention? A number of users posted memes joking that the Sharp Stick director and actress put her foot in her mouth or was using the tweet to fish for attention

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Fast and Furious 10 Has Scenes Filmed in Brazil

Fast and Furious 10 Has Scenes Filmed in Brazil

The tenth film in the “Fast and Furious” series will have scenes shot in Brazil. In September, Brazilian production company Conspiração was responsible for conducting filming for the feature film on Copacabana and Arpoador beaches in Rio de Janeiro.

Helicopters and drones were used in the recording. The cast was not present.

The fifth feature film of the saga, released in 2011, took place in the city of Rio de Janeiro. Despite this, most of the scenes were not shot in Rio but in Puerto Rico, which offered lower production costs.

As the penultimate feature film in the franchise, Fast and Furious 10 is slated to premiere in May 2023. In addition to Vin Diesel in the role of Dominic Toretto, actors Brie Larson and Jason Momoa have already been announced in the cast.

Strict costume

Singer Wilson Simoninha performed at the gala dinner at the Hospital do Graacc (Support Group for Youth and Children with Cancer) at Sala São Paulo in São Paulo on Monday (3). The evening was hosted by former Minister Mailson da Nóbrega, who was in charge of the Ministry of Finance from 1987 to 1990. The journalist Carlos Tramontina was present.

With BIANKA VIEIRA, KARINA MATIAS and MANOELLA SMITH


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1665045069 HEARD Dental costs hold back urgent surgeries

HEARD | Dental costs hold back urgent surgeries

Surgical procedures, transplants, chemotherapy: At the University of Montreal Hospital Center (CHUM), surgeries had to be postponed because patients could not pay for their mandatory dental treatment before the procedure.

Posted at 12:00 p.m

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Alice Girard-Bossé La Presse

“It’s disgusting. That puts us in very difficult situations,” criticizes Dr. Matthieu Schmittbuhl, head of the dental department at CHUM.

To reduce the risk of complications, patients awaiting transplantation, cardiac surgery and oncology patients who need to receive chemotherapy need to systematically perform preventive oral care, including tooth cleaning and tooth extraction.

“The dental check-up and the preparation of the mouth are essential, otherwise it can have very serious consequences for the patient,” explains Dr. Schmittbuhl.

Recently, an immunocompromised patient at CHUM was admitted to the ICU with pneumonia and pericarditis, an inflammation of the membrane that surrounds the heart. These complications were most likely related to a dental infection.

Currently, only adult head and neck cancer patients who require oral care are covered by the Régie de l’assurance maladie du Québec (RAMQ). Everyone else doesn’t, much to the chagrin of Dr. Schmittbuhl.

HEARD Dental costs hold back urgent surgeries

PHOTO ALAIN ROBERGE, THE PRESS

dr Matthieu Schmittbuhl, head of the CHUM dental department

This is not comfort care, but basic care.

dr Matthieu Schmittbuhl, head of the CHUM dental department

Every week, the specialist meets patients who cannot pay these fees. “Sometimes, in the urgency of a situation, we’ll take care of it for free, but we can’t always do it. It’s unbearable to discuss money with someone waiting for a transplant. It doesn’t make ethical sense,” he said.

Waiting for funding

In January, a team of CHUM specialists asked the Department of Health and Human Services (MSSS) to establish an oral care program for these uninsured patients. The ministry did not respond to her request.

“Medically, ethically and deontologically, it seems to me the minimum that we should provide this care when everything else is covered,” said Dr. Schmittbuhl.

According to their estimates, this program could involve about 200 patients per year or an annual budget of $100,000. “It’s a very modest budget. It’s a drop in the bucket of the healthcare budget and we can’t get it,” he says.

dr Schmittbuhl argues that putting off surgeries due to a lack of oral care is far more costly to the healthcare system. In fact, the annual cost of dialysis for a patient awaiting a kidney transplant is $100,000, while the cost of a kidney transplant is $66,000 in the first year and $23,000 in subsequent years.

Delaying a heart transplant or surgery, or keeping a patient in the ICU comes at a staggering cost to the healthcare system.

dr Matthew Schmittbuehl

For several years, the Ordre des Dentistes du Québec has required that medically necessary dental treatment be covered by public funds. “The Order believes that the division of healthcare between those who fall within the field of medicine and those who fall under the field of dentistry creates situations that are totally unacceptable from a purely human point of view,” said the director for public affairs and communications. Andre Lavoie.

The Quebec Medical Association (FMSQ) also believes that pre-surgery care should be covered by the RAMQ. “Some treatments require preoperative evaluation and good oral health, and patients in Quebec should be able to receive this oral care without incurring any costs,” said FMSQ spokeswoman Sacha Lubin.

The MSSS, for its part, claims that this file is currently being analyzed. “A committee to direct a medically necessary oral care program […] was set up, but the pandemic delayed the completion of the work,” said spokeswoman Marjorie Larouche.

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The UN Security Council is again divided over North Korean

The UN Security Council is again divided over North Korean missiles

Debate over how to deal with the launch of a North Korean ballistic missile over Japanese territory on Wednesday split an already deeply divided UN Security Council, with Russia and China insisting US-led military drills in the region had provoked North Korea into action .

Wednesday’s meeting ended with no agreement on next steps, despite warnings from the US and its allies that the council’s failure to reach a consensus on North Korea’s record number of missile launches this year emboldens North Korea and undermines the authority of the United Nations’ most powerful Body.

“This advice should be aware that it is being tested and its credibility is at stake. This council should act and take measures that restore its credibility,” said Hiroshi Minami, Japan’s deputy representative to the United Nations and one of those who unsuccessfully urged the council to its previous unified stance on North Korea’s launches.

North Korea’s missile flight on Tuesday was its longest-range weapons test ever, a nuclear-capable ballistic missile that flew over Japan and had enough power to reach the US Pacific region of Guam and beyond. It forced the Japanese government to issue evacuation warnings and halt trains.

The United Nations said North Korea’s unprecedented number of ballistic missile launches this year, now more than 40, comes as North Korea also moves toward a seventh nuclear test. North Korea fired two ballistic missiles at its eastern waters just 22 minutes apart early Thursday, officials said.

North Korean leader Kim Jong Un is pushing to develop a full-fledged nuclear arsenal capable of threatening the US mainland and territory of US allies, with a view to wringing concessions from those countries, some experts say.

Tuesday’s launch was the first Kim has aimed at Japan since 2017. It came days after a US-led military exercise in the Sea of ​​Japan with allies Japan and South Korea. The exercise involved a US nuclear-powered aircraft carrier.

Deputy UN representative to Russia Anna Evstigneeva insisted to Security Council members that it was the “irresponsibility” of this US-led exercise, along with growing US alliances with partners in the Asia-Pacific region, that prompted North Korea’s action.

China’s deputy UN representative, Geng Shuang, presented the matter as a confrontation between the US and North Korea and urged a more conciliatory approach by Washington.

Wednesday’s session ended with only a vague call for more discussion of the matter. It served as the latest example of growing polarization between Russia and China and the other permanent members of the Security Council, the United States, the United Kingdom and France.

The division, brought to the fore by Russia’s invasion of Ukraine, China’s military assertiveness in the Asia-Pacific region and the US response thereto, and other issues, has paralyzed the Security Council on many key actions. That’s because all five permanent members have the power to veto Council actions.

The Security Council imposed sanctions after North Korea’s first nuclear test blast in 2006 and has tightened them over the years to curb its nuclear and ballistic missile programs and cut funding.

In May, however, China and Russia blocked a Security Council resolution that would have tightened sanctions over the missile launches, sparking the Council’s first serious row over sanctions against North Korea.

Linda Thomas-Greenfield, the US ambassador to the United Nations, told Security Council members on Wednesday that “two permanent members of the Security Council activated Kim Jong Un.”

Missile launches earlier this year were clearly launched without concurrent US military exercises or other clear triggers, Thomas-Greenfield said, calling North Korea’s a “self-initiated escalation.”

“We will not tolerate any country blaming our defenses… as somehow inherently causing these threats,” she said. She added, “The United States will not stand by while the DPRK directly threatens the US or its allies.”

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Why the ESG vs GOP war over energy and climate

Why the ESG vs. GOP war over energy and climate change is going nowhere

Wall Street is no stranger to culture wars dating back to William Jennings Bryan and the free silver movement of the 19th century. Today’s version: Conservative states’ push to get state pension funds to stop doing business with money managers who use their power to pressure companies to cut carbon emissions.

There is a list of reasons to believe that the pushback will not materially affect the movement towards investments that consider environmental, social and corporate governance goals in addition to shorter-term financial performance.

First, the backlash on ESG has so far been limited to a few states, while Republican politicians in other states are raising issues but taking limited action. Even where governments have acted, the moves appear to have had little impact on investment firms that consider ESG when picking stocks — which are almost all major money managers. And politicians are preparing for an attack on ESG based on antitrust claims — but institutional investors have framed their strategies to steer clear of legal theories pursued by Republican attorneys general, legal experts say.

“It’s not just vaporware, it’s ridiculous vaporware,” said David Nadig, exchange-traded fund expert and financial futurist at VettaFi, owner of ETFDatabase.com. Vaporware is software industry slang for products that are advertised but never hit store shelves. “They say they’re boycotting companies that are boycotting the energy industry, and then they find out BlackRock manages energy funds.”

In particular, the tussle between conservative states, with officials in Florida and Texas being the loudest, and Wall Street is about how investors should use their money to take sides in debates about energy policy and climate change. More broadly, this is yet another front in America’s culture wars, with politicians positioning themselves in opposition to what Florida Gov. Ron DeSantis calls “awakened” corporations.

“Corporate power has increasingly been used to impose an ideological agenda on the American people by perverting financial investment priorities under the euphemistic banners of environmental, social and corporate governance and diversity, inclusion and equity,” DeSantis said in a statement July 28 statement that the state will prohibit its pension funds from taking ESG criteria into account when making investments.

ESG is a branch of investment based on screening securities based on the environmental, social and corporate governance practices of their issuers. For example, companies with low carbon emissions, transparent corporate governance and good labor relations can receive high ESG scores from arbitrators such as Sustainalytics and Standard & Poor’s. Companies that make tobacco, oil, and weapons often fare poorly.

Some ESG investments are segregated from other stocks held by mutual funds and exchange-traded funds that specialize in companies that either have high ESG scores or shun certain industries, including fossil fuels. A much larger number of funds continue to hold stocks in industries that have been criticized for ESG reasons, while portfolio managers pressurize companies to improve their governance practices and reduce their pollution.

For example, members of the five-year-old Climate Action 100+ coalition control more than $68 trillion in assets, most of which are held by traditional wealth managers rather than ESG funds, said Kirsten Snow Spalding, senior director of the Ceres Investor Network and a spokesperson the Climate Action 100+.

Florida and Texas have taken different approaches, each highlighting the rise of anti-wake politicians when trying to derail ESG investing.

Florida’s Board of Administration passed policies with no specific enforcement action, though DeSantis promised to introduce follow-up legislation next year. (The DeSantis office did not respond to written inquiries from CNBC.com). The resolution requires Florida’s pension funds to consider only the likely financial performance of potential investments and place no emphasis on politics.

Texas’ SB-13 bill, passed last year, is, or appears to be, more stringent. The Texas law, modeled on the conservative American Legislative Exchange Council, requires state pension funds to divest themselves of companies that “boycott” energy companies. However, in one important exception, it precludes any obligation to divest most of the mutual funds managed by these companies.

And attorneys general in 19 states signed a letter to New York-based wealth management giant BlackRock on Aug. 4, arguing that ESG investing hurts energy companies by pushing for lower carbon emissions and questioning whether the Pressure from investors violates antitrust law.

“Although the alignment of BlackRock’s engagement priorities with environmental and social goals, such as the United Nations Sustainable Development Goals, is articulated in language about long-term value, it suggests at least a mixed motive,” the letter reads. “BlackRock’s actions appear to be deliberately constraining and damaging the competitiveness of energy markets.”

Texas law got off to a rocky start.

In its initial attempt to identify companies boycotting energy companies — a linchpin of the Texas economy — the Texas State Comptroller’s office identified only one US-based firm, New York-based BlackRock, with $8 .5 trillion US dollars under management, and nine foreign companies, including UBS and CreditSuisse.

Spokesmen for Texas Attorney General Ken Paxton and Comptroller Glenn Hegar did not respond to requests for comment. Texas Teachers spokesman Rob Maxwell said the fund will sell shares as required by law.

BlackRock has one primary goal: to be the world’s largest wealth manager by assets. But she denies boycotting energy investments at all. The $2 billion US Energy Fund, for example, has ExxonMobil, Chevron, and ConocoPhillips as its top three holdings. The largest renewable energy company in the fund, solar panel maker First Solar, accounts for less than 1 percent of its holdings. Other BlackRock funds hold energy stocks as part of broader stock indices, and still others avoid investing in fossil fuels.

BlackRock is among the top five holders of Exxon and Chevron stock. BlackRock actually owns 6.2 percent of ExxonMobil, according to the company’s annual proxy disclosure in April.

BlackRock has felt pressure to make this case louder since the political backlash began, and its recent comments on energy investing and its softer stance at shareholder meetings have drawn resistance from climate investors.

BlackRock’s approach to ESG involves its investment stewardship teams first working directly with companies on issues where they support change. For example, the company voted against re-electing three directors at Exxon in 2021, which climate investors had hoped would mark a game changer for the company, using its shareholder power to be more aggressive in proxy contests. But the company says it actually gave more support to incumbent management teams this year and voted for fewer shareholder resolutions than in 2021 because companies are becoming more aggressive on climate action.

That’s how most ESG investing works, says Spalding.

The CA 100+ approach is based on shareholder lobbying with company leaders for lower emissions, earlier and more detailed disclosure of emission reduction plans and improved corporate governance, she said. Certain CA100+ members take the lead in tracking each of the 166 high-carbon companies the network follows, report their findings to the group through semi-annual surveys, and are required to remain shareholders to be the group’s emissary for that company, she said.

“It’s as far from a boycott as you can get,” said Spalding, who is both a former law professor and episcopal priest. “The clear line in our approach is that each institution makes its own decisions.”

The broader ESG community would have little trouble with Florida’s approach because ESG is based on the idea that poorly managed climate risk will ultimately hurt companies’ bottom line, Spalding said. “These are large institutions with a very clear sense of their fiduciary duty,” she said. They are clearly working on what they see as systemic financial risk.”

Legal experts say each institution’s independence in implementing climate goals is likely to shield them from the antitrust claims that attorneys general are investigating.

Antitrust laws, which ban trade-restricting combinations because they often raise prices and hamper competition, can prohibit boycotts, particularly when they are instituted to get a company to change its prices, said Hill Wellford, a partner at Vinson & Elkins, who presented a paper on ESG and antitrust law at the American Bar Association Spring Conference.

But a network like CA100+, which shares information without prescribing what each member should do with it, is unlikely to qualify unless the state AGs find facts about coordinated actions that have not yet been disclosed, he said. That’s unlikely as big companies with on-staff lawyers understand how to stay out of trouble because the law is well regulated, he said.

“If it’s not a concerted action, it’s not a boycott,” said Michael Carrier, an antitrust expert at Rutgers Law School in Camden, NJ

Where does ESG fit into your portfolio? Join us virtually on Thursday, October 6th for our 2nd Annual ESG Impact, where we’ll hear from executives from Amazon, Heart Aerospace, United Airlines Ventures, Engine No.1 and more as they turn ideas into action , to achieve a more sustainable & just future. Visit cnbcevents.com to learn more and register now.

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