House Judiciary Committee Calls Out the ESG Cartel

The U.S. House Committee on the Judiciary has sent a letter to more than 130 companies demanding information about their involvement with the environmental, social, governance (ESG) cartel that combines climate activism with corporate policies.

Signed by Committee Chairman Jim Jordan (R-OH) and Congressman Thomas Massie (R-KY), the letter seeks answers from investors regarding their companies’ ESG goals and whether collusion with climate activists may be a violation of antitrust laws.

It’s a cartel. Any one of these companies operating alone with these ESG policies hurtful to consumers would go out of business in a free and open market. https://t.co/6q6gAXFFyj

— Thomas Massie (@RepThomasMassie) July 30, 2024

The letter has some particularly pointed questions for those companies who are involved with Climate Action 100+ which includes more than 170 companies who have agreed to advance left-wing ESG-related goals like transitioning away from fossil fuels entirely.

Critics have panned the latest letter from the committee as being a waste of time and unlikely to produce any new information than was garnered by earlier letters. But Rep. Massie pointed to the investment arms of JP Morgan Chase, State Street and Blackrock either pulling out entirely or drastically scaling back their involvement in ESG.

I generally feel the same way about letters but this was the result of our last letters:https://t.co/6e1DPXDX69 pic.twitter.com/Vqn95acU0T

— Thomas Massie (@RepThomasMassie) July 31, 2024

The letters sent to the more than 130 companies participating in Climate Action 100+ seeks answers as to what requests they will make of their investors and specifically how they will “take action to reduce greenhouse gas emissions across the value chain.”

The controversy over ESG initiatives arises, in part, because of concerns that companies who commit to this type of climate activism may be in violation of their fiduciary responsibility to shareholders.

The letter also states that the Committee is authorized to investigate and legislate on matters relating to the “protection of trade and commerce against unlawful restraints and monopolies.”