{"id":1966464,"date":"2023-07-07T10:43:02","date_gmt":"2023-07-07T14:43:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/house-republicans-say-blackrock-vanguards-esg-policies-may-violate-antitrust-law\/"},"modified":"2023-07-07T10:44:28","modified_gmt":"2023-07-07T14:44:28","slug":"house-republicans-say-blackrock-vanguards-esg-policies-may-violate-antitrust-law","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/house-republicans-say-blackrock-vanguards-esg-policies-may-violate-antitrust-law\/","title":{"rendered":"House Republicans claim that the ESG policies of BlackRock and Vanguard might breach antitrust laws."},"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\">30<\/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%2Fhouse-republicans-say-blackrock-vanguards-esg-policies-may-violate-antitrust-law%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=1966464&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--><div class=\"post_content\">\n<h2>House Republicans Demand Transparency from BlackRock and Vanguard<\/h2>\n<p>House Republicans are taking action to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/congress-grapples-with-ai-revolution-chatgpt\/\" title=\"Congress Grapples with AI Revolution, ChatGPT\">hold companies accountable<\/a> for their decarbonization and net zero emissions targets. In letters sent to the heads of BlackRock and Vanguard, among others, the lawmakers are requesting documents that detail how these targets were developed. However, they also caution that these efforts to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-goes-full-green-new-deal-tyrant-carbon-emissions-threaten-the-very-existence-of-our-planet-video\/\" title=\"Biden Goes Full Green New Deal Tyrant: Carbon Emissions Threaten \u201cthe Very Existence of our Planet\u201d (VIDEO)\">combat climate change<\/a> may potentially violate U.S. antitrust law.<\/p>\n<h3>Targeting the Giants<\/h3>\n<p>The letters were sent to the Glasgow Financial Alliance for Net Zero (GFANZ) and its Net Zero Asset Managers (NZAM) initiative, as well as Vanguard, BlackRock, and State Street. These three asset management giants are members of both NZAM and Climate Action 100+, making them key players in the push for net zero greenhouse gas emissions by 2050.<\/p>\n<h3>Concerns Over Collusion<\/h3>\n<p>The Republicans are demanding answers regarding the companies&#8217; corporate environmental, social, and governance (ESG) policies. They are particularly interested in whether there have been collusive agreements to &#8220;decarbonize&#8221; assets and reduce emissions, which could <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/house-republicans-say-blackrock-vanguards-esg-policies-may-violate-antitrust-law\/\" title=\"House Republicans claim that the ESG policies of BlackRock and Vanguard might breach antitrust laws.\">potentially violate antitrust laws<\/a>. The lawmakers argue that such agreements may have negative impacts on America&#8217;s economic well-being.<\/p>\n<h2>The Impacts of ESG Policies<\/h2>\n<p>The Republicans highlight the potential consequences of reaching net zero emissions. They argue that achieving this goal would require drastic declines in the use of coal, oil, and gas, which in turn would lead to restrictions on industries and investments. They claim that these restrictions limit output, increase prices, and deprive businesses and consumers of choices, ultimately harming competition and consumers.<\/p>\n<h3>Request for Documents<\/h3>\n<p>In their letters, the lawmakers ask the companies to provide various documents, including those related to the creation and goals of GFANZ and NZAM, as well as communications regarding the development of decarbonization and net zero emissions targets. They also request information on how the companies monitor and enforce these agreements and how they impact output, price, and consumer choices.<\/p>\n<p>The companies have until July 20 to comply with the request for information.<\/p>\n<h2>ESG Warning from the World Economic Forum<\/h2>\n<p>ESG policies have become increasingly important for companies to assess their practices and performance in relation to environmental, social, and governance issues. The concept was originally developed at the United Nations Environmental Programme Financial Initiative.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>House Republicans have urged BlackRock and Vanguard, among other companies, to provide documents outlining their decarbonization and net zero emissions strategies. They cautioned that these efforts to address climate change might breach U.S. antitrust regulations. The request was made by House Judiciary Chairman Jim Jordan (R-Ohio), Rep. Dan Bishop (R-N.C.), and Rep. Thomas Massie (R-Ky.).<\/p>\n","protected":false},"author":69,"featured_media":1966465,"comment_status":"open","ping_status":"closed","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":[543],"tags":[],"class_list":["post-1966464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"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\/1966464","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\/69"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1966464"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1966464\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1966465"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1966464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1966464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1966464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}