Climate Control: Decarbonization Collusion in Environmental, Social, and Governance (ESG) Investing
Meeting Status:
Scheduled
Date:
Location:
Capitol Complex, 2141 RHOB, Washington, DC, 20515, USA
WASHINGTON, D.C. – The House Judiciary Subcommittee on the Administrative State, Regulatory Reform, and Antitrust will hold a hearing on Wednesday, June 12, 2024, at 10:30 a.m. ET. The hearing, "Climate Control: Decarbonization Collusion in Environmental, Social, and Governance (ESG) Investing," will examine whether existing civil and criminal penalties and current antitrust law enforcement efforts are sufficient to deter anticompetitive collusion to promote ESG-related goals in the investment industry.
WITNESSES:
Witnesses
Ms. Mindy Lubber
Chief Executive Officer and President, Ceres
Ms. Natasha Lamb
Managing Partner and Chief Investment Officer, Arjuna Capital
Mr. Dan Bienvenue
Interim Chief Investment Officer, CalPERS
Mr. Keith Ellison
Minnesota Attorney General
Meeting Documents
- A document titled “Emerging & Diverse Manager Data Report” dated March 2013, submitted for the Record by Mr. Gaetz of FL.
- A document from CalPERS titled “CalPERS Reports Preliminary 5.8% Investment Return for 2022-23 Fiscal Year” dated July 19, 2023, submitted for the Record by Mr. Gaetz of FL.
- An article from Pensions&Investments titled “Florida Retirement System notches net 7.5% for fiscal year” dated September 6, 2023, submitted for the Record by Mr. Gaetz of FL.
- A document from Principles for Responsible Investment (PRI) titled “Global Sector Strategies: Investor Actions to Align the Aviation Sector with the IEA’s 1.5 C Decarbonization Pathway” dated March 2022, submitted for the Record by Mr. Massie of KY.
- A shareholder agreement from Arjuna Capital dated January 2021, submitted for the Record by Mr. Massie of KY.
- An article from Energy Bad Boys titled “Hawaii Five Uh-Oh! Power Outages in Paradise” dated January 13, 2024, submitted for the Record by Ms. Hageman of WY.
- An article from National Review Online titled “The Moral High Ground” dated September 7, 2011, submitted by Ms. Hageman of WY.
- An executive summary from ExxonMobil titled “2024 Advancing Climate Solutions” dated January 8, 2024, submitted for the Record by Mr. Correa of CA.
- An article from Climate.gov titled “2023: A historic year of U.S. billion-dollar weather and climate disasters” dated January 8, 2024, submitted for the Record by Mr. Correa of CA.
- An article from Satista.com titled “The Soaring Cost Of Climate Change”, submitted for the Record by Mr. Correa of CA.
- An article from Independent.co titled “Cities ablaze and countries submerged: The worst climate disasters of 2022” dated January 10, 2023, submitted for the Record by Mr. Correa of CA.
- An article from Calpers.gov titled “Why We’re Opposing Divestment in Senate Bill 252” dated March 30, 2023, submitted for the Record by Mr. Correa of CA.
- A document from NYU Center for Sustainable Business titled “ESG and Financial Performance” Uncovering the Relationship by Aggregating Evidence from 1,000 Plus Studies Published between 2015-2020” by Tensie Whelan, Ulrich Atz, and Casey Clark, submitted for the Record by Mr. Correa of CA.
- A document titled “California Public Employees’ Retirement System Total Fund Investment Policy”, submitted for the Record by Mr. Correa of CA.
- A document from BlackRock titled “Energy investing: Setting the record straight”, submitted for the Record by Mr. Correa of CA.
- An article from Visionresearchreports.com titled “Oil and Gas Analytics Market Size to Reach US$ 50 Billion by 2030”, submitted by Mr. Correa of CA.
- A chart titled “Chart 1: 2024 Oil Market Deficit Should Keep Prices Elevated”, submitted for the Record by Mr. Correa of CA.
- A document from CalPERS titled “Trust Level Review: As of December 31, 2023”, submitted for the Record by Mr. Correa of CA.
- A document from Standard & Poor’s titled “Shareholder Rights & Corporate Disclosure: ‘Corporate Governance Conference’” dated March 2006, submitted for the Record by Mr. Correa of CA.
- A document from Delta Air Lines titled “United States: Securities and Exchange Commission” dated December 31, 2023, submitted for the Record by Mr. Correa of CA.
- An article from the New York Times titled “How Climate Change Turned Lush Hawaii Into a Tinderbox, submitted for the Record by Mr. Correa of CA.
- An article from the New York Times titled “Not Sustainable”: High Insurance Costs Threaten Affordable Housing” dated June 7, 2024, submitted for the Record by Mr. Correa of CA.
- An article from NBC News titled “Drought and wind: How Maui’s wildfires turned into a tragedy” dated August 10, 2023, submitted for the Record by Mr. Correa of CA.
- An article from Kut.org titled “Energy officials warn of winter blackout risk in Texas and beyond”, submitted for the Record by Mr. Correa of CA.
- A letter to Attorney General Merrick Garland and Assistant Attorney General Jonathan Kanter from House Judiciary Democrats dated June 4, 2024, submitted for the Record by Mr. Nadler of NY.
- A document from McKinsey & Company titled “Diversity Matters Even More: The case for holistic impact” dated November 2023, submitted for the Record by Mr. Nadler of NY.
- An article from the Wall Street Journal titled “Conservatives Have a New Rallying Cry: Down With ESG” dated February 26, 2023, submitted for the Record by Mr. Johnson of GA.
- An article from the Guardian titled “Far-right fossil fuels company allies pressure US supreme court to shield firms in unprecedented campaign” dated June 9, 2024, submitted for the Record by Mr. Johnson of GA.
- An article from Documented.net titled “State Attorneys General Join Anti-ESG Effort, Amid…”, submitted for the Record by Mr. Johnson of GA.
- An article from Documented.net titled “Dark Money Group Weaponizes State Treasurers in Attacks…”, submitted for the Record by Mr. Johnson of GA.
- A document from Climate Action 100+ titled “Climate Action 100+ Signatory Handbook” dated June 2023, submitted for the Record by Ms. Scanlon of PA.
- House Judiciary Democratic Staff Report titled “Unsustainable and Unoriginal: How the Republicans Borrowed a Bogus Antitrust Theory to Protect Big Oil” dated June 11, 2024, submitted for the Record by Ms. Balint of VT.
- An article from AP News titled “Biden releasing 1 million barrels of gasoline from Northeast reserve in bid to lower prices at pump” dated May 21, 2024, submitted for the Record by Mr. Correa of CA.