GOP Targets ‘Climate Cartel’

(5MinNewsBreak.com) – In damning conclusions, a new report released by the GOP-led House Judiciary Committee has found that a coalition of activists and financial entities, termed a “climate cartel,” is purportedly coercing U.S. companies into adopting stringent environmental standards.

Titled “Climate Control: Exposing The Decarbonization Collusion in Environmental, Social, and Governance (ESG) Investing,” the report contains preliminary conclusions from an inquiry into the ties between climate activists and significant financial organizations.

According to the document, the committee examined 272,294 documents and 2,565,258 pages of private information, The Daily Wire reports.

“The Committee’s ongoing investigation into collusion between left-wing activists and major financial institutions has revealed that a climate cartel is working to decarbonize the U.S. economy — with disastrous implications for American consumers,” the report stated.

“The climate cartel has declared war on our way of life, escalating its attacks on free markets and demanding that companies slash output of the critical products and services that allow Americans to drive, fly, and eat,” it added.

A significant portion of the 41-page report delves into the activities of Climate Action 100+, an investor group advocating for environmental, social, and governance initiatives, which manages approximately $68 trillion in assets.

For instance, Climate Action 100+ mandates that associated companies “take necessary action on climate change” by “halving emissions by 2030 and delivering net zero GHG emissions by 2050, in line with the goals of the Paris Agreement to pursue efforts to limit warming to 1.5°C.”

A document retrieved by the committee indicated that Climate Action 100+ aimed to “show that engagement can have teeth—and that investors are willing to escalate pressure against companies that refuse to act.”

The report underscores that this advocacy for decarbonization could elevate costs in sectors like fossil fuels, aviation, and agriculture.

The report also discusses Ceres, an environmental nonprofit and co-founder of Climate Action 100+.

Ceres claims to spearhead a “coordinated push to harness the extraordinary power of financial system leaders to accelerate the transition of the global economy to net-zero by steering massive flows of capital…away from investments that lock in greenhouse gas emissions.”

The committee noted Ceres’ reluctance to grant access to its Investor Portal, a tool for organizing interactions with shareholders and corporations.

“Despite the centrality of the Ceres Investor Portal to the climate cartel’s operations and possible antitrust violations, and its obvious responsiveness to the categories of information demanded by the Committee’s subpoena, Ceres has refused to provide the Committee with meaningful access to these materials,” the report added, clarifying that legal measures are still under consideration.

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