House Judiciary Chairman Rep. Jim Jordan and North Carolina Rep. Dan Bishop sent a letter Friday to the CEO of Ceres, calling on the executive to explain corporate environmental, social, and governance (ESG) efforts that could violate federal antitrust laws.
The Daily Caller first obtained a copy of the letter to Ceres CEO Mindy Lubber on Friday. The letter claims Ceres — a sustainability organization — appears to “facilitate collusion” through a company named Climate Action 100+, which may be violating U.S. antitrust law. The lawmakers compared Climate Action 100+ to a “cartel” that gets businesses to take action on climate change.
“The Committee on the Judiciary is conducting oversight of the adequacy and enforcement of U.S. antitrust laws. Corporations are collectively adopting and imposing progressive environmental, social, and governance (ESG)-related goals, and Ceres appears to facilitate collusion through Climate Action 100+ that may violate U.S. antitrust law. To advance our oversight and inform potential legislation related to collusive ESG policies, the Committee must understand how and to what extent Ceres and Climate Action 100+ facilitated corporate collusion to promote ESG-related goals,” the lawmakers wrote in the letter.
Here Is What They Are Requesting In The Letter:
- All documents and communications referring or relating to the various markets, sectors, or industries, in which Climate Action 100+ or Ceres help investors, members, or other companies advance ESG-related goals.
- All documents and communications referring or relating to guidance from ClimateAction 100+ (including from any of its investor networks, any of its working groups, or its Steering Committee) or Ceres on how investors, members, or other companies can or should advance ESG-related goals, including but not limited to how they can or should do so with so-called “focus companies.”
- All documents and communications referring or relating to any efforts by Climate Action 100+ (including by any of its investor networks, any of its working groups, or its SteeringCommittee) or Ceres to obtain or solicit agreements, commitments, or other types of participation from any investors, members, or other companies, including but not limited to BlackRock, State Street, or Vanguard, to advance ESG-related goals. Please understand this request to include, but not be limited to, any documents and communications referring or relating to any investor’s, member’s, or other company’s knowledge or awareness of a different investor’s, member’s, or other company’s-coordination or work with, or agreements to support efforts relating to, Climate Action 100+ or Ceres.
- All documents and communications between or among investors, members, or other companies referring or relating to investors’, members’, or other companies’ joint or collective efforts to advance ESG-related goals, including any documents and communications reflecting or suggesting agreement over specific steps, policies, or best practices.
- All documents and communications referring or relating to the circumstances of the founding of Climate Action 100+, including any documents and communications about the need for Climate Action 100+ to facilitate advancing ESG-related goals, and about the roles of Ceres and CalPERS.
- All documents and communications between or among proxy advisory firms, including institutional Shareholder Services and Glass Lewis, or financial services companies, including PayPal, referring or relating to ESG-related goals.
READ THE LETTER HERE:
(DAILY CALLER OBTAINED) — … by Henry Rodgers
Lawmakers had previously sent letters to Ceres demanding the organization to hand over documents. The original letters were also signed by Bishop, Florida Rep. Matt Gaetz, California Rep. Tom McClintock, Wisconsin Rep. Scott Fitzgerald and Oregon Rep. Cliff Bentz. (RELATED: Two Senate Dems Join Republicans In Move To Stop Biden’s Politicized ESG Investment Rule)
Jordan and Bishop gave them until May 19, 2023, to provide them with the information they are requesting. (RELATED: ‘Ask Germany’: Dem Senator Pours Cold Water On ESG Investing For Retirement Funds)
“Accordingly, the requests in our initial letter dated December 6, 2022, remain outstanding. We reiterate these requests and ask for your prompt voluntarily compliance by May 19, 2023. Please be advised that the Committee may be forced to resort to compulsory process if these requests remain outstanding,” Bishop and Jordan added in the letter.