Rep. Jordan Subpoenas Climate Group Over Alleged ‘Collusion’ & Antitrust Violations
Rep. Jim Jordan (R-Ohio), the head of the GOP-controlled House Judiciary Committee, has called for documents from the climate advocacy group As You Sow. This request is part of a broader investigation into climate-conscious investing, raising concerns about what Jordan claims is an illegal conspiracy tied to a left-wing political agenda.
Jordan accuses As You Sow of playing a role in advancing left-wing environmental, social, and governance (ESG) goals, which he believes are being collectively adopted and imposed by corporations. He stated, “The Committee is concerned that As You Sow appears to facilitate collusion that may violate U.S. antitrust law.” reported The Hill.
In the context of antitrust law, collusion occurs when market competitors secretly and illegally collaborate to manipulate prices, whether through formal agreements, market division, or supply restrictions.
According to The Hill, this move by Rep. Jordan signifies an escalation in the ongoing Republican criticism of the ESG movement. Recent reports have suggested that this campaign may have originated with, and been funded by, the fossil fuel industry.
The ESG movement is an offshoot of socially responsible investing, aiming to consider environmental, social, and justice-related costs that are traditionally excluded from corporate balance sheets.
Notably, a Republican-led bill opposing ESG initiatives passed in March, but it was subsequently vetoed by President Biden, marking his first veto. With Democrats holding majorities in both the Senate and the White House, the prospects for similar legislation appear limited.
Read more: The Hill