In a long overdue move, House Judiciary Chairman Rep. Jim Jordan, along with fellow Republicans Rep. Dan Bishop of North Carolina and Rep. Thomas Massie of Kentucky, have instigated an investigation into some of the world’s largest companies over alleged violations of federal antitrust laws.
The investigation, launched on Thursday, centers on the companies’ environmental, social, and governance (ESG) initiatives aka woke neo-Marxism, focusing particularly on their efforts to ‘decarbonize’ assets and reduce emissions to net zero – an ideology with potentially disastrous consequences. BlackRock, Vanguard, State Street, and the Glasgow Financial Alliance for Net Zero (GFANZ) are the targets of the lawmakers’ scrutiny.
GFANZ, which coordinates commitments and actions to achieve net zero across the financial sector, boasts the participation of over 300 asset manager members and manages over $59 trillion in assets.
BlackRock, Vanguard, and State Street, as three of the globe’s leading asset managers, are alleged to have entered collusive agreements to attain net zero emissions by 2050 or sooner across all managed assets. The lawmakers express concern that such a goal could severely impact the coal, gas, and oil industries as the transition away from fossil fuels accelerates.
In one of the letters, the legislators wrote: “We write because BlackRock, Inc. (BlackRock) 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 further claim that Ceres, a sustainability organization, appears to enable collusion through Climate Action 100+, a cartel aimed at motivating businesses to subscribe to the climate hoax – “or else”.
Earlier this year, Rep. Jordan subpoenaed Ceres’ CEO to shed light on corporate ESG practices he alleged might violate federal antitrust laws.
The companies under investigation, namely GFANZ, Vanguard, BlackRock, and State Street, have until 5 p.m. EDT on July 20, 2023, to provide the requested information to the lawmakers.
Vanguard, in response to the development, issued a statement saying, “As an asset manager owned by the investors in our funds, our unique, independent approach is focused on helping everyday retail investors achieve their long-term financial goals. We look forward to reviewing and responding to the Committee’s request.”
As the investigation unfolds, it promises to throw light on the intersection of corporate socialism, environmental mass hysteria, and federal regulations, and their collective implications for the nation’s economic malaise and loss of individual freedom.
