# The Heartland Institute has led the fight at the federal and state levels to halt ESG efforts and penalize companies for hamstringing U.S. geopolitical and economic sovereignty.

*business · news · 2026-05-23 · Watts Up With That*

## Key points

- Attorneys general from 23 states are investigating major credit rating agencies for ESG-driven company downgrades.
- Credit rating agencies allegedly pledged to systematically incorporate ESG into ratings under UN-backed commitments.
- State AGs claim ESG-driven downgrades of fossil fuel companies violate federal and state laws and SEC obligations.
- AAA research finds electric vehicles can lose up to 39% driving range at 20°F compared to 75°F.
- A Nature study found most observed coastal sea level rise is caused by land subsidence, not just climate change.

**Companies:** BlackRock, State Street, Vanguard
**Countries:** United States, United Kingdom, Germany, Canada, China

[Read the full story on Watts Up With That](https://wattsupwiththat.com/2026/05/22/climate-change-weekly-580-private-climate-cabal-under-investigation/)

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