{"id":2319886,"date":"2024-08-06T09:38:59","date_gmt":"2024-08-06T13:38:59","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/north-carolina-headquartered-barings-named-in-climate-action-100-probe-washington-examiner\/"},"modified":"2024-08-06T09:42:56","modified_gmt":"2024-08-06T13:42:56","slug":"north-carolina-headquartered-barings-named-in-climate-action-100-probe-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/north-carolina-headquartered-barings-named-in-climate-action-100-probe-washington-examiner\/","title":{"rendered":"North Carolina-headquartered Barings named in Climate Action 100+ probe &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/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%2Fnorth-carolina-headquartered-barings-named-in-climate-action-100-probe-washington-examiner%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=2319886&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>Barings, \u200ca <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/macro-gamblers-grapple-with-immovable-bank-of-japan\/\" title=\"Macro gamblers grapple with immovable Bank of Japan\">global asset management firm<\/a> headquartered in North Carolina, has been mentioned in a congressional inquiry related to the Climate \u200cAction 100+ initiative. This investigation involves over 130 companies in the U.S. and is led by U.S. Representatives Deborah Ross and Dan Bishop, who \u2063are seeking information on these companies&#8217; involvement with environmental, social, and governance (ESG) \u200bpractices. The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/house-gop-investigates-university-of-maryland-for-covid-19-policies\/\" title=\"House GOP probes University of Maryland&#039;s COVID-19 protocols\">inquiry raises concerns<\/a>\u2063 over potential violations of antitrust laws, suggesting that corporations may be engaging in collusion detrimental \u2062to competition.<\/p>\n<p>The Judiciary Committee has set an August 13 deadline for responses, emphasizing the need for transparency regarding the operations and tactics employed by these firms. Notably, \u200cthe inquiry follows a report labeling the Climate Action 100+ initiative as a &#8220;climate cartel&#8221; and criticizing the current administration for not addressing these alleged violations of U.S. antitrust laws. The probe involves analyzing a vast amount of\u2063 documentation, including over \u200c272,000 documents \u200dand 2.5 million pages\u2064 of non-public information. Other major asset management \u200dfirms\u200c like BlackRock, State Street, and JPAM have distanced themselves from \u200cthe initiative amidst increasing scrutiny.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">North Carolina-headquartered Barings named in Climate Action 100+ probe<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1724015\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>(The Center Square) &ndash; One North Carolina company is among more than 130 in the United States being asked by a congressional committee about involvement with environmental, social and governance initiative Climate Action 100+.<\/p>\n<p>U.S. Reps. Deborah Ross and Dan Bishop, a Democrat and Republican respectively from North Carolina, are among the 42 members of the Judiciary Committee in the House of Representatives seeking answers. In addition to the letter sent to Charlotte-headquartered Barings, the probe also seeks answers on involvement by retirement systems and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chinas-population-drops-for-the-first-time-in-six-decades\/\" title=\"China\u2019s Population Drops For The First Time In Six Decades\">government pension programs<\/a>.<\/p>\n<p>The probe and letters dated last Tuesday to&nbsp;<a href=\"https:\/\/www.climateaction100.org\/#:~:text=Climate%20Action%20100%2B%20is%20an,long%2Dterm%20value%20of%20assets.\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Climate Action 100+<\/strong><\/a>&nbsp;is trying to&nbsp;<a href=\"https:\/\/judiciary.house.gov\/sites\/evo-subsites\/republicans-judiciary.house.gov\/files\/evo-media-document\/2024-07-30-JDJ-THM-to-CA100_combined.pdf\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>find answers to how the companies are<\/strong><\/a>&nbsp;operating with tactics, requests and actions; and garner documentations. A noon Aug. 13 deadline is set for responses.&nbsp;<\/p>\n<p>Antitrust law, and the possible breach of it, is cited in each letter. Antitrust laws,&nbsp;<a href=\"https:\/\/www.justice.gov\/atr\/antitrust-laws-and-you\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>the Department of Justice says<\/strong><\/a>, &ldquo;prohibit anticompetitive conduct and mergers that deprive American consumers, taxpayers, and workers of the benefits of competition.&rdquo;<\/p>\n<p>An interim report by the Judiciary &ndash;&nbsp;<a href=\"https:\/\/judiciary.house.gov\/sites\/evo-subsites\/republicans-judiciary.house.gov\/files\/evo-media-document\/2024-06-11%20Climate%20Control%20-%20Exposing%20the%20Decarbonization%20Collusion%20in%20Environmental%2C%20Social%2C%20and%20Governance%20%28ESG%29%20Investing.pdf\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Climate Control: Exposing the Decarbonization Collusion in Environmental, Social and Governance (ESG) Investing<\/strong><\/a>&nbsp;&ndash; labels the initiative a &ldquo;climate cartel,&rdquo; one which is involved in collusion and has not been investigated by the Biden administration.<\/p>\n<p>&ldquo;The climate cartel has declared war on our way of life, escalating its attacks on free markets and demanding that <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/house-republicans-take-aim-at-climate-cartel-pushing-decarbonization-of-american-industry\/\" title=\"House Republicans Target &#039;Climate Cartel&#039; Advocating for U.S. Industry Decarbonization\">companies slash output<\/a> of the critical products and services that allow Americans to drive, fly, and eat,&rdquo; the report says. &ldquo;The Biden administration has failed to act upon the climate cartel&rsquo;s apparent violations of longstanding U.S. antitrust law. The committee, in contrast, is actively investigating their anticompetitive behavior.&rdquo;<\/p>\n<p>The report says with launch of the probe came withdrawals from the effort by BlackRock, State Street and JPAM, &ldquo;three of the world&rsquo;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/large-investors-pushing-disney-into-culture-war-says-author-of-woke-inc\/\" title=\"Large Investors Pushing Disney Into Culture War, Says Author of \u201cWoke, Inc.\u201d\">largest asset managers<\/a>.&rdquo; Asset managers BlackRock, State Street and Vanguard own 21.9% of shares, and vote 24.9% of the shares, within the Standard and Poor&rsquo;s (S&amp;P) 500.<\/p>\n<p>More than 272,000 documents and 2.5 million pages of nonpublic information were reviewed,&nbsp;<a href=\"https:\/\/judiciary.house.gov\/about\/membership\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>the Judiciary says<\/strong><\/a>.&nbsp;<\/p>\n<p><a href=\"https:\/\/judiciary.house.gov\/media\/press-releases\/jordan-and-massie-demand-information-over-130-companies-surrounding-their\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Most of the letters went to addresses<\/strong><\/a>&nbsp;in New York, Massachusetts and California.<\/p>\n<p>Barings,&nbsp;<a href=\"https:\/\/www.barings.com\/en-pt\/professional-investor\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>according to its website<\/strong><\/a>, &ldquo;is a global asset management firm which seeks to deliver excess returns across public and private markets in fixed income, real assets and capital solutions.&rdquo;<\/p>\n<p>In general, ESG investing &ndash; an acronym used in conjunction with environmental, social, and governance policies in investments &ndash; measures company policy. These policies typically align with progressive, or left, thoughts when it comes to politics.<\/p>\n<p>Other names of description are sustainability, such as treatment of natural resources, gas emissions and climate regulations. A company&rsquo;s policies for profits shared in the community, and how health and safety are impacted, relates to the social aspect. Governance usually aligns not only with integrity of accountability toward shareholders, but also diversity in leadership.<\/p>\n<p>Issues in a company&rsquo;s industry and the principles of ESG often shape policy.<\/p>\n<p>Bishop is a member of the&nbsp;<a href=\"https:\/\/judiciary.house.gov\/subcommittees\/committee-judiciary-118th-congress\/antitrust-commercial-and-administrative-law-118th\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Subcommittee on the Administrative State, Regulatory Reform, and Antitrust<\/strong><\/a>&nbsp;within the Judiciary Committee. The 26-member subcommittee is chaired by Rep. Thomas Massie, R-Ky.<\/p>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1724015\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1724015\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Barings, a company based in North Carolina, is one of over 130 U.S. firms being questioned by a congressional committee regarding their participation in the Climate Action 100+ initiative focused on environmental, social, and governance (ESG) issues. Representatives Deborah Ross and Dan Bishop from North Carolina are part of the 42-member Judiciary Committee in the House seeking information. The inquiry includes a letter directed at Barings&#8217; headquarters in Charlotte and aims to investigate the involvement of retirement systems and government pension plans as well. The committee&#8217;s letters, sent last Tuesday to Climate Action 100+, are intended to uncover how these companies operate concerning tactics, requests, actions, and documentation related to ESG initiatives. A deadline for responses has been set for noon on August 13.<\/p>\n<p>The letters reference antitrust laws that prohibit anti-competitive practices that harm American consumers and workers. An interim report titled &#8220;Climate Control: Exposing the Decarbonization Collusion in Environmental, Social and Governance (ESG) Investing&#8221; characterizes this initiative as a &#8220;climate cartel&#8221; engaged in collusion without scrutiny from the Biden administration. The report claims that this cartel threatens free markets by pushing companies to reduce production of essential goods and services.<\/p>\n<p>The investigation follows withdrawals from BlackRock, State Street, and JPAM\u2014three major asset managers\u2014from participating in Climate Action 100+. These firms collectively hold significant shares within the S&amp;P 500 index. The Judiciary Committee has reviewed over 272,000 documents totaling approximately 2.5 million pages of nonpublic information during its investigation.<\/p>\n<p>Barings describes itself on its website as a global asset management firm aiming to achieve superior returns across various markets including fixed income and real assets. ESG investing evaluates corporate policies aligned with progressive values regarding environmental sustainability\u2014such as resource management\u2014and social responsibility\u2014like community profit-sharing\u2014and governance standards focusing on accountability and diversity among leadership.<\/p>\n<p>Bishop serves on the Subcommittee on Administrative State, Regulatory Reform, and Antitrust within the Judiciary Committee chaired by Rep. Thomas Massie from Kentucky<\/p>\n","protected":false},"author":1,"featured_media":2319887,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/05\/AP22224648913988-1024x683.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[37320,37321,32258],"class_list":["post-2319886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-barings","tag-climate-action-100","tag-north-carolina"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/05\/AP22224648913988-1024x683.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2319886","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2319886"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2319886\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2319887"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2319886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2319886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2319886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}