New Report Reveals Evidence of ESG Collusion Among Left-Wing Activists and Major Financial Institutions
June 11, 2024
WASHINGTON, D.C. – Today, the House Judiciary Committee released an interim staff report titled, "Climate Control: Exposing The Decarbonization Collusion in Environmental, Social, and Governance (ESG) Investing." The report details new direct evidence of a "climate cartel" consisting of left-wing activists and major financial institutions that collude to impose radical environmental, social, and governance (ESG) goals on American companies.
The climate cartel colludes to decarbonize companies by leveraging negotiations with management, shareholder resolutions, and board of director votes. This cartel forces companies to disclose their carbon emissions, reduce their carbon emissions, and enforce their disclosure and reduction commitments by handcuffing and restricting company management. This "decarbonization" collusion necessarily causes reduced output and higher prices, including in the critical fossil fuel, aviation, and agriculture industries, posing a significant threat to the economy and to the well-being of American consumers.
Despite evidence of collusion, the Biden Administration has failed to investigate the climate cartel or enforce the antitrust laws against its members. In contrast, the Committee's oversight and investigation already has succeeded in prompting several major asset managers to withdraw from Climate Action 100+.
The Committee remains steadfast in its commitment to preserving competition and protecting the welfare of American consumers. Its investigation underscores the importance of robustly enforcing longstanding antitrust law prohibiting anticompetitive collusion against the climate cartel.
Read the full interim staff report here. Read the report's appendix here.
The climate cartel colludes to decarbonize companies by leveraging negotiations with management, shareholder resolutions, and board of director votes. This cartel forces companies to disclose their carbon emissions, reduce their carbon emissions, and enforce their disclosure and reduction commitments by handcuffing and restricting company management. This "decarbonization" collusion necessarily causes reduced output and higher prices, including in the critical fossil fuel, aviation, and agriculture industries, posing a significant threat to the economy and to the well-being of American consumers.
Despite evidence of collusion, the Biden Administration has failed to investigate the climate cartel or enforce the antitrust laws against its members. In contrast, the Committee's oversight and investigation already has succeeded in prompting several major asset managers to withdraw from Climate Action 100+.
The Committee remains steadfast in its commitment to preserving competition and protecting the welfare of American consumers. Its investigation underscores the importance of robustly enforcing longstanding antitrust law prohibiting anticompetitive collusion against the climate cartel.
Read the full interim staff report here. Read the report's appendix here.
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