Goldman Sachs Asset Management has become the latest asset management company under investigation for anticompetitive collusion to end its participation in Climate Action 100+, a climate change-ideology investment network.
The Climate Action 100+ cartel “targets” companies that are seeking investment and capital, ESG Today noted Tuesday, reporting Goldman’s withdrawal from the coalition:
“Goldman Asset Management has ended its participation in Climate Action 100+, a climate-focused investor network focused on engaging with companies to reduce their greenhouse gas emissions and implement climate transition plans, joining several other investment manager departures as political pressure on group participants builds in the U.S.”
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“Launched in 2017, Climate Action 100+ (CA100+) is an investor initiative that has targeted the world’s largest corporate greenhouse gas (GHG) emitters through engagement to reduce emissions, improve governance and strengthen climate-related financial disclosures.”
Coincidentally, Tuesday was also the deadline for Goldman to provide information about its potentially collusive activities in furtherance of Climate Action’s radical, anti-energy climate agenda.
On July 30, House Judiciary Committee Chairman Jim Jordan (R-OH) and Subcommittee on the Administrative State, Regulatory Reform, and Antitrust Chairman Thomas Massie (R-KY) sent a letter to Goldman Sachs Asset Management and more than a hundred other U.S.-based companies demanding information about their involvement with the extreme leftist Environmental, Social, Governance (ESG) cartel.
The letters are the latest step taken to uncover the extent to which companies, retirement systems, and government pension programs may have illegally colluded, a Judiciary Committee press release explains.
The Committee has uncovered evidence that financial institutions are colluding with climate activists through initiatives like Climate Action 100+ to adopt left-wing environmental, social, and governance (ESG)-related goals, potentially in violation of U.S. antitrust law, the letter explains:
“Climate Action 100+ was ‘designed to harness the collective influence of’ its investor signatories ‘to spur companies’ on its focus list ‘to accelerate their emission reductions’ to net zero in line with the Paris Agreement’s goal of limiting global warming.”
“Since the beginning of the Committee’s investigation, several of the world’s largest asset managers—including BlackRock, State Street Global Advisors, J.P. Morgan, PIMCO, and Invesco—have publicly withdrawn from Climate Action 100+,” the July 30 letter says, noting that about a dozen investor signatories have pulled out of Climate Action 100+ over the past six months.