Republicans on the House Judiciary Committee demanded Friday that over 60 companies provide answers on their involvement with leftist climate organizations, according to letters first shared with The Daily Wire.
House Judiciary Chair Jim Jordan (R-OH) and Rep. Thomas Massie (R-KY) told large companies, including BlackRock, State Street Global Advisors, and J.P. Morgan, to preserve all documents related to their involvement with the Glasgow Financial Alliance for Net Zero and the Net Zero Asset Managers. They also asked whether their involvement with those organizations had any influence on their company policies and asset management.
The lawmakers wrote that “the Committee has uncovered evidence that financial institutions are colluding with climate activists through initiatives like the Glasgow Financial Alliance for Net Zero (GFANZ) and the Net Zero Asset Managers (NZAM) initiative to collectively adopt and impose left-wing environmental, social, and governance (ESG)-related goals, which may violate U.S. antitrust law.”
“The Committee has obtained evidence that members of GFANZ and NZAM attempt to impose a ‘net-zero’ climate agenda on U.S. companies in their investment portfolios,” they added.
The Glasgow Financial Alliance for Net Zero describes itself as “a global coalition of leading financial institutions committed to accelerating the decarbonization of the economy.” Net Zero Asset Managers, which says its signers have more than $57.5 trillion under management, is “an international group of asset managers committed, consistent with their fiduciary duty to their clients and beneficiaries, to supporting the goal of net zero greenhouse gas emissions by 2050 or sooner.”
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In the letter to J.P.Morgan Asset Management shared with The Daily Wire, the lawmakers ask if its membership in the organization has “altered its ‘stewardship and engagement strategy’ with its portfolio companies” and if it had taken any actions to push the companies it invests in toward net zero.
The lawmakers also asked the companies if their involvement with both climate initiatives had impacted its voting policy, requesting an answer to its questions by January 10, 2025.
“The Committee has reason to believe that J.P. MorganAsset Management may be in possession of documents and communications related to GFANZ and NZAM’s collusive activity that would inform potential legislative reforms,” the lawmakers wrote. “This letter serves as a formal request to preserve all existing and future records and materials relating to the topics addressed in this letter.”
In June, the House Judiciary Committee released a report saying that there was a “climate cartel” working together to push companies to impose radical environmental goals and the decarbonization of American industry.
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Republicans on the House Judiciary Committee demanded Friday that over 60 companies provide answers on their involvement with leftist climate organizations, according to letters first shared with The Daily Wire.
House Judiciary Chair Jim Jordan (R-OH) and Rep. Thomas Massie (R-KY) told large companies, including BlackRock, State Street Global Advisors, and J.P. Morgan, to preserve all documents related to their involvement with the Glasgow Financial Alliance for Net Zero and the Net Zero Asset Managers. They also asked whether their involvement with those organizations had any influence on their company policies and asset management.
The lawmakers wrote that “the Committee has uncovered evidence that financial institutions are colluding with climate activists through initiatives like the Glasgow Financial Alliance for Net Zero (GFANZ) and the Net Zero Asset Managers (NZAM) initiative to collectively adopt and impose left-wing environmental, social, and governance (ESG)-related goals, which may violate U.S. antitrust law.”
“The Committee has obtained evidence that members of GFANZ and NZAM attempt to impose a ‘net-zero’ climate agenda on U.S. companies in their investment portfolios,” they added.
The Glasgow Financial Alliance for Net Zero describes itself as “a global coalition of leading financial institutions committed to accelerating the decarbonization of the economy.” Net Zero Asset Managers, which says its signers have more than $57.5 trillion under management, is “an international group of asset managers committed, consistent with their fiduciary duty to their clients and beneficiaries, to supporting the goal of net zero greenhouse gas emissions by 2050 or sooner.”
CHECK OUT THE DAILY WIRE HOLIDAY GIFT GUIDE
In the letter to J.P.Morgan Asset Management shared with The Daily Wire, the lawmakers ask if its membership in the organization has “altered its ‘stewardship and engagement strategy’ with its portfolio companies” and if it had taken any actions to push the companies it invests in toward net zero.
The lawmakers also asked the companies if their involvement with both climate initiatives had impacted its voting policy, requesting an answer to its questions by January 10, 2025.
“The Committee has reason to believe that J.P. MorganAsset Management may be in possession of documents and communications related to GFANZ and NZAM’s collusive activity that would inform potential legislative reforms,” the lawmakers wrote. “This letter serves as a formal request to preserve all existing and future records and materials relating to the topics addressed in this letter.”
In June, the House Judiciary Committee released a report saying that there was a “climate cartel” working together to push companies to impose radical environmental goals and the decarbonization of American industry.
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