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Eighteen U.S. states join Missouri probe into Morningstar ESG

Attorneys general in 18 U.S. states have joined Missouri’s probe into whether Morningstar Inc violated consumer-protection law with its evaluations of companies’ performance on environmental, social and governance (ESG) issues, staff for Missouri Attorney General Eric Schmitt said on Wednesday.

Schmitt began the probe last month, and spokesman Chris Nuelle said the office invited attorneys general from states including Texas and Virginia “to widen our pool of resources and share information.”

A list from Schmitt’s office identified Republican attorneys general from 15 states while three more attorneys general were not identified because this was not allowed under their states’ rules, Nuelle said.

Schmitt on July 26 sent questions to Morningstar, asking among other questions about which news sources the research firm uses for ESG analysis. The probe is also looking at whether the firm and its Sustainalytics ESG ratings unit violated a Missouri law aimed at protecting Israel from a campaign to isolate the Jewish state over its treatment of Palestinians.

Read More: Reuters