WASHINGTON, D.C. - The House Judiciary Committee has initiated an investigation into Vanguard, BlackRock, State Street, the Glasgow Financial Alliance for Net Zero (GFANZ), and the Net Zero Asset Managers initiative (NZAM) based on reports of potential collaboration to promote net-zero products among American citizens.
The investigation is being led by Representatives Jim Jordan (R-OH), Thomas Massie (R-KY), and Dan Bishop (R-NC). It is focused on examining the companies' adherence to Economic, Social, and Governance (ESG) goals. The World Economic Forum (WEF) often promotes ESG goals, which some claim are associated with a potential influence of businesses on global governments. This influence is said to be part of what the WEF refers to as stakeholder capitalism.
The House Judiciary Committee has sent letters to the mentioned companies, requesting all documents pertaining to their alleged collaboration with others to influence the American economy according to their own interests.
The letters to the companies indicate that the Committee on the Judiciary is currently overseeing the effectiveness and implementation of U.S. antitrust laws. And it is suggested by the Judiciary Committee that the companies in question may be in potential violation of U.S. antitrust law due to their agreements to "decarbonize" their assets under management and reduce emissions to net zero, which could potentially have negative impacts on the freedom and economic well-being of Americans.
Click here for the latest news updates and to join in the conversation.BlackRock was recognized as a participant in both Climate Action 100+ and the Net Zero Asset Managers initiative (NZAM). Climate Action 100+ has facilitated an agreement between BlackRock and other institutional investors to collaborate with the companies they invest in, aiming to achieve net zero greenhouse gas (GHG) emissions by 2050.
In addition, Vanguard was recognized for collaborating with NZAM to work together with other asset managers in assisting asset owner clients in achieving decarbonization objectives. This collaboration aligns with their aim to achieve net zero emissions by 2050 or earlier across all managed assets.
The Climate Action 100+ is a significant fund with assets totaling over $68 trillion. Its objective is to transform the power infrastructure according to their vision of "clean energy." In a blog post, they discuss their involvement in advocating for policy changes related to the power grid, commonly referred to as "climate lobbying."
According to a fact check conducted by Just Facts, an organization known for their thorough research on public policy positions, it has been found that the mining of rare earth minerals for electric vehicles can result in significant environmental damage. Additionally, Just Facts says there have been reports of the involvement of forced labor in the mining of these metals.
Furthermore, several researchers have discovered that solar panels and batteries labeled as "green" can become toxic waste that poses risks to both the environment and human health.
The specific involvement of Vanguard and BlackRock in promoting these potentially risky technologies remains uncertain. However, the investigation requires BlackRock, Vanguard, and the other entities to provide all relevant documents to the Judiciary Committee in order to facilitate the completion of their investigation.
0 Comments