JOURNAL ARTICLE

House Committee Says It Finds Evidence of 'Climate Cartel'.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Quinson, Tim 3 of 3

Abstract

The House Judiciary Committee has released an interim report alleging collusion and anticompetitive behavior by financial firms and climate activists to push ESG goals on US companies. The report claims that a "climate cartel" pressured Exxon Mobil Corp. to make climate pledges and replace board members. However, Exxon Mobil saw record profits in 2022 and plans to increase oil and gas production while investing in low-carbon ventures. The committee's investigation is ongoing, and groups like Climate Action 100+ and the Glasgow Financial Alliance for Net Zero are being scrutinized. BlackRock, Vanguard, and State Street are facing lawsuits for allegedly boosting electricity prices through their investments, which they deny. President-elect Donald Trump is expected to support the GOP's criticisms of ESG investing. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/12, pN.PAG
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2024
  • Accession Number:181645767
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