Representative Jordan wrote to 130 investors regarding ESG in money management.
House Judiciary Chair Jim Jordan wrote letters to 130 investors, requesting an explanation for their proposed environmental, social, and governance (ESG) goals. He noted that pledges to support climate or other initiatives may be violations of antitrust laws.
The House Judiciary Committee stated, “The Committee continues to examine whether existing civil and criminal penalties and current antitrust law enforcement efforts are sufficient to deter anticompetitive collusion to promote ESG-related goals in the investment industry.”
The scrutiny of ESG investor strategy has become a focus of the committee’s majority over concerns that ESG initiatives result in collusion and monopolistic behavior.
The organization Climate Action 100+ has come into focus for gathering signatures from over 700 companies and investors dedicated to implementing clean energy and climate-related goals.
As the Lord Leads, Pray with Us…
- For wisdom for Chair Jordan and the members of the House Judiciary Committee as they examine the ESG goals of money management companies.
- For federal legislators to be prudent as they investigate the investment practices of financial institutions.
Sources: Reuters
