{"id":1765039,"date":"2022-12-06T15:32:26","date_gmt":"2022-12-06T20:32:26","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1765039"},"modified":"2022-12-06T15:32:30","modified_gmt":"2022-12-06T20:32:30","slug":"exclusive-republicans-launch-antitrust-investigation-into-climate-obsessed-corporate-cartel","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-republicans-launch-antitrust-investigation-into-climate-obsessed-corporate-cartel\/","title":{"rendered":"EXCLUSIVE: Republicans Launch Antitrust Investigation Into Climate-Obsessed Corporate \u2018Cartel\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fexclusive-republicans-launch-antitrust-investigation-into-climate-obsessed-corporate-cartel%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1765039&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>House Republicans launched an investigation Tuesday probing whether major climate groups that spearhead the \u201cenvironmental, social, and governance\u201d (ESG) movement are violating antitrust laws. <\/p>\n<p>In a letter sent to executives of the Steering Committee for Climate Action 100+, Republicans led by Ohio Rep. Jim Jordan are demanding a treasure trove of documents that illustrate the coalition\u2019s network of influence. Climate Action 100+, they wrote, \u201cseems to work like a cartel to \u2018ensure the world\u2019s largest corporate greenhouse gas emitters take necessary action on climate change.&#8217;\u201d<\/p>\n<p>\u201cWoke corporations are collectively adopting and imposing progressive policy goals that American consumers do not want or do not need. An individual company\u2019s use of corporate resources for progressive aims might violate fiduciary duties or other laws, harming its viability and alienating consumers,\u201d Republicans warned. \u201cBut when companies agree to work together to punish disfavored views or industries, or to otherwise advance environmental, social, and governance (ESG) goals, this coordinated behavior may violate the antitrust laws and harm American consumers.\u201d<\/p>\n<p><a title=\"View House Republican letter to Climate Action 100+ on Scribd\" href=\"https:\/\/www.scribd.com\/document\/612712009\/House-Republican-letter-to-Climate-Action-100#from_embed\">House Republican letter to \u2026<\/a> by <a title=\"View The Federalist&#039;s profile on Scribd\" href=\"https:\/\/www.scribd.com\/user\/274202084\/The-Federalist#from_embed\">The Federalist<\/a><\/p>\n<p>Jordan, the incoming chair of the House Judiciary Committee, was joined by Reps. Dan Bishop of North Carolina, Matt Gaetz of Florida, Scott Fitzgerald of Wisconsin, Cliff Bentz of Oregon, and Tom McClintock of California. <\/p>\n<p>In a June op-ed published in the Wall Street Journal and cited by lawmakers, Sean Fieler, the president of Equinox Partners, a Manhattan-based investment firm, outlined <a href=\"https:\/\/www.wsj.com\/articles\/antitrust-enivornment-social-governance-oil-gas-equity-exxon-mobil-collusion-11654184723\" target=\"_blank\" rel=\"noreferrer noopener\">how<\/a> \u201cThe ESG Movement Is a Ripe Target for Antitrust Action.\u201d<\/p>\n<p>\u201cAdvancing the ESG agenda requires that the owners of capital collude to restrict the supply of certain goods and services,\u201d Fieler wrote, after highlighting how ESG standards have effectively crushed oil and gas production. \u201cRegardless of the colluding parties\u2019 motivations, this is a textbook antitrust violation.\u201d<\/p>\n<p>Republican Arizona Attorney General Mark Brnovich <a href=\"https:\/\/www.azag.gov\/press-release\/attorney-general-brnovich-announces-action-stop-coercive-investment-practices\" target=\"_blank\" rel=\"noreferrer noopener\">launched<\/a> a separate antitrust investigation into the Climate Action 100+ network in November last year. <\/p>\n<p>In his own <a href=\"https:\/\/www.wsj.com\/articles\/esg-may-be-an-antitrust-violation-climate-activism-energy-prices-401k-retirement-investment-political-agenda-coordinated-influence-11646594807\" target=\"_blank\" rel=\"noreferrer noopener\">op-ed<\/a> for the Wall Street Journal published in March, Brnovich, who is being term-limited out of office next year, explained why Climate Action 100+ leading the ESG movement is an antitrust violation:<\/p>\n<p>Here\u2019s what is happening: The biggest banks and money managers seek to implement a political agenda, such as compliance with the Paris Climate Accord. Then a group mobilizes: Climate Action 100+, for example, comprised of hundreds of big banks and money managers that together manage $60 trillion. The group uses its coordinated influence to compel companies to shut down coal and natural-gas plants. The activism can include pushing climate goals at shareholder meetings and voting against directors and proposals that don\u2019t comport with the agenda, even if other decisions may benefit investors.<\/p>\n<p>Firms then report their plans to Climate Action 100+, Brnovich added, which \u201chelps ensure maximum coordinated effort toward the common goal of overhauling the energy industry.\u201d<\/p>\n<p>\u201cMoney managers wield influence over these companies because they represent investors who are shareholders, often through their 401(k)s or pension plans,\u201d the attorney general explained. \u201cIn other words, your retirement funds are<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8216;When companies agree to work together to punish disfavored views or industries,&#8217; the Republicans wrote, &#8216;this coordinated behavior may violate the antitrust laws.&#8217;<\/p>\n","protected":false},"author":494,"featured_media":1765042,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[546],"tags":[],"class_list":["post-1765039","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-federalist"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1765039","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/494"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1765039"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1765039\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1765042"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1765039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1765039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1765039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}