American Airlines that the airline's pension was in breach of its fiduciary duty for allowing BlackRock to weigh ESG consideration in employees' retirement plans. BlackRock was not a party in the lawsuit. "In Spence, offering BlackRock funds in the company's 401(k) plans violated the company's duty to focus only on financial returns because publicly available evidence put the plan fiduciaries on notice that BlackRock uses its funds to pursue goals other than financial returns—like the ESG goal of reducing greenhouse gas emissions," says the letter shared with The Daily Signal.