Republicans map out their agenda on ESG and antitrust (2022)

Six Republicans on the House Judiciary Committee have launched an investigation looking into whether major climate groups are violating federal antitrust laws in their effort to push the “environmental, social, and governance” (ESG) agenda.

Their concerns were raised in a letter dated Dec. 6 to two executives on the steering committee for investor group Climate Action 100+ in which the Republicans argued that ESG, at its core, was “merely partisan politics masquerading as responsible corporate governance.”

The ESG agenda has now included “stifling investment in oil and gas,” gun control, abortion access, and “fake news dissemination,” according to the letter.

The lawmakers likened the climate action investor group to a “cartel,” whose job is to “ensure the world’s largest corporate greenhouse gas emitters take necessary action on climate change,” quoting from the group’s website….

The letter was signed by Reps. Jim Jordan (R-Ohio), Dan Bishop (R-N.C.), Matt Gaetz (R-Fla.), Tom McClintock (R-Calif.), Scott Fitzgerald (R-Wis.), and Cliff Bentz (R-Ore.). Jordan, currently the ranking Republican member of the House Judiciary Committee, will be the committee’s chairperson in the Republican-led House in January.

“Corporate America’s collusion in pursuit of ESG goals may violate federal or state antitrust laws,” the lawmakers wrote, pointing out how antitrust law is usually “skeptical of cooperation among competitors.”

“When enterprises like Climate Action 100+ or Ceres invite or facilitate collusion to achieve progressive policy goals, that activity can aid anticompetitive and unlawful agreements and behavior.”

Ceres is a nonprofit organization and a co-founder of Climate Action 100+….

The letter was addressed to Mindy Lubber, CEO of Ceres, and Simiso Nzima, managing investment director of global equity at the California Public Employees’ Retirement System.

The Republicans want the two executives to turn over all documents from Dec. 1, 2016, to the present showing how the organization has played its role in “facilitating and coordinating companies’ efforts to achieve ESG-related goals.”^[1]