House Panel Subpoenas Vanguard and Arjuna Capital in ESG Investigation
A House panel served subpoenas to The Vanguard Group and Arjuna Capital Monday seeking documents and communications related to how they "advance ESG policies." The Judiciary Committee's investigation is looking into whether ESG investing coalitions like Climate Action 100+ and the Net Zero Asset Managers Initiative violate antitrust laws by depriving investors of the chance to invest more in oil and gas. The committee's chairman Rep. Jim Jordan alleges that ESG-informed investment decisions can limit output and increase prices in oil and gas while depriving those businesses and consumers of choices. At least two dozen organizations have received requests for ESG-related documents from the Judiciary Committee as part of its antitrust investigation which began in December 2022.
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00:00 It's Benzinga and here's what's on the block.
00:02 A House panel served subpoenas to the Vanguard Group at Arjuna Capital on Monday seeking
00:06 documents and communications related to how they advance ESG policies.
00:10 The Judiciary Committee's investigation is looking into whether ESG investing coalitions
00:14 like Climate Action 100+ and the Net Zero Asset Managers Initiative violate antitrust
00:19 laws by depriving investors of the chance to invest more in oil and gas.
00:23 The committee's chairman, Representative Jim Jordan, alleges that ESG-informed investment
00:27 decisions can limit output and increase prices in oil and gas while depriving those businesses
00:31 and consumers of choices.
00:32 For all things money, visit Benzinga.com.
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