BlackRock, Vanguard, and State Street have requested a Texas court to dismiss a state lawsuit alleging that they conspired to reduce coal output. They argue that the claims are unsupported and unconventional legal theories. The companies stated that the lawsuit, led by the Texas state government, lacks evidence of them instructing coal companies to decrease production. These asset managers collectively oversee over $26 trillion in assets and hold significant influence over corporate decisions and ESG policies. They are facing scrutiny from various political quarters, with conservative politicians from energy-producing states accusing them of collusion in industry groups pushing for net-zero goals. The lawsuit filed by Texas and ten other states claims that the firms' climate activism harmed coal production and raised energy costs. The companies defended their actions as typical for their index funds, essential for offering cost-effective investment options for Americans. The case is known as Texas et al v BlackRock Inc et al in the U.S. District Court for the Eastern District of Texas.