The American business landscape has faced upheaval in recent years following woke ideologies that push corporations to conform.
One of the largest impacts to industry has been the climate change agenda and its attack on anything and everything in its path.
Now GOP lawmakers are targeting these woke ESG standards being used to destroy American industries.
ESG standards are corrupting the American economy and could potentially break the law
American companies have been corrupted by so called “environmental, social, and governance” agendas.
It could have dire consequences on competition and consumer choice.
That’s why GOP lawmakers on the House Judiciary Committee are investigating major climate groups to determine if they’ve potentially broken any antitrust laws.
One such group is Climate Action 100+, which is an investor group that influences over $68 trillion in assets at 166 companies.
This means they have direct influence over major corporations at the highest level.
In a recent letter to the executive steering committee, Republicans directly attacked ESG standards saying that it was “merely partisan politics masquerading as responsible corporate governance.”
In a letter to climate executives, they described ESG’s guidelines as a “cartel”
One of the bigger partisan issues is energy creation and the ESG standard is focused solely on renewables and they take a hard stance against any mix of fossil fuels.
They coerce organizations to positions of “stifling investment in oil and gas.”
Companies must either adhere or lose funding.
Lawmakers described the current stranglehold climate groups have over energy as similar to a “cartel,” who works to “ensure the world’s largest corporate greenhouse emitters take necessary action on climate change.”
Things like that can make a big difference to the entire energy sector by driving costs way up for oil and gas.
This might push more people toward purchasing electric cars but it’s not right by consumers.
Moving too fast from fossil fuels could also create an unmitigated disaster in other industries.
ESG standards are impacting the culture of America that “American consumers do not want or do not need”
Woke ideologies aren’t just impacting energy though.
The ESG gets involved in cultural issues like gun control, abortion access, and “fake news dissemination.”
The lawmakers also explained that “woke corporations are collectively adopting and imposing progressive policy goals that American consumers do not want or do not need.”
They went on to warn that pushing these left-wing standards might in turn “violate fiduciary duties or other laws, harming its viability and alienating consumers.”
The point is that if “companies agree to work together to punish disfavored views or industries, or to otherwise advance . . . (ESG) goals,” they are violating the law and harming Americans.
Lawmakers say corporate America is colluding and are possibly in violation of “antitrust laws”
“Corporate America’s collusion in pursuit of ESG goals may violate federal or state antitrust laws” because antitrust laws don’t normally get along well with “cooperation among competitors.”
The letter was signed by six Republicans on the House Judiciary committee: Jim Jordan (R-Ohio), Dan Bishop (R-NC), Matt Gaetz (R-FL), Tom McClintock (R-CA), Scott Fitzgerald (R-WI), and Cliff Betz (R-OR).
They make a clear case for violations of the law.
And this investigation is sure to show cooperation as companies are most often following the right script for ESG.
Patriot Political will keep you up-to-date on any developments to this ongoing story.
