House Judiciary Chairman Rep. Jim Jordan and two other House Republicans sent four letters to the heads of massive companies such as BlackRock and Vanguard, calling on them to explain corporate environmental, social and governance efforts that could violate federal antitrust laws.
The Daily Caller first obtained copies of the letters, which were sent Thursday to the heads of Glasgow Financial Alliance for Net Zero, Vanguard, BlackRock and State Street.
" Net Zero Asset Managers is a sector-specific group within GFANZ that supports net zero goals and has more than 300 asset manager members, as well as over $59 trillion in assets under its management.
BlackRock, State Street and Vanguard are three of the world's largest asset managers.
BlackRock and State Street are members of both NZAM and a company named Climate Action 100+. Vanguard was also a member of NZAM until December 2022.
"We write because BlackRock, Inc. is potentially violating U.S. antitrust law by entering into agreements to 'decarbonize' its assets under management and reduce emissions to net zero - with potentially harmful effects on Americans' freedom and economic well-being," the lawmakers wrote in one of the letters.
The letter claims Ceres - a sustainability organization - appears to "Facilitate collusion" through Climate Action 100+. Jordan and lawmakers compared Climate Action 100+ to a "Cartel" that gets businesses to take action on climate change.
https://dailycaller.com/2023/07/06/jim-jordan-house-republicans-blackrock-vanguard-esg-practices/
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