‘Climate cartel’: House Judiciary Committee GOP accuses Wall Street of collusion on ESG

‘Climate cartel’: House Judiciary Committee GOP accuses Wall Street of collusion on ESG


Republicans on the House Judiciary Committee accused some of the biggest Wall Street firms Tuesday of colluding with advocacy groups to force participation in environmental, social, and governance investing, raising anticipation for a hearing featuring activist investors this week.

An interim report published Tuesday by House Judiciary Committee staff details what it describes as “new, direct evidence” of a “climate cartel” consisting of left-wing activist groups and major financial institutions working together to force companies to decarbonize. 

The report accuses the “cartel” of colluding with companies by leveraging negotiations with management, filing shareholder resolutions, or voting out or threatening to replace board members in order to ramp up or escalate pressure against leaders who failed to take action on ESG investing.

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The House report also focused

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