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2023-07-07 Government Corruption
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House GOP expands ESG inquiry to major asset managers
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By Ben Whedon
[JustTheNews] GFANZ and NZAM, they assert, may have violated antitrust laws by "coordinating their members' agreements" to decarbonize their assets.
A fine argument, but the physics aren't there is you don't control the DoJ
The House Judiciary Committee on Thursday sent letters to several asset managers and climate organizations over potential antitrust violations related to "decarbonization" agreements between firms as part of a larger investigative inquiry into Environmental, Social, and Governance (ESG) practices in the financial sector.
ESG investing is the practice of using investor capital to advance non-financial goals, among them those outlined in ESG initiatives. Conservative critics have contended that the practice may constitute a breach of an asset manager's fiduciary duties to its investors.
The Judiciary Committee in June issued a subpoena to climate group Ceres over a concern that its Climate Action 100+ initiative may have violated antitrust law.
The Thursday inquiries address the same issue, namely that cooperation between asset managers to advance ESG initiatives may result in harmful effects on the economy and particularly impact disfavored industries such as fossil fuels.
Read the rest at the link
| About climate groups Net Zero Asset Managers initiative (NZAM) and the Glasgow Financial Alliance for Net Zero (GFANZ). |
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Posted by badanov 2023-07-07 00:00||
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Posted by Super Hose 2023-07-07 12:10||
2023-07-07 12:10||
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